CBN Moves To Massively Flood Economy With Banknotes

CBN Moves To Massively Flood Economy With Banknotes

The apex bank, the Central Bank of Nigeria, CBN, has affirmed the release of banknotes to commercial banks all over the country.

This is part of the efforts to save Nigerians the hardship of currency scarcity across the country.

The apex bank similarly ordered commercial banks to open at weekends and on Sundays to make the distribution faster.

Dr. Isah Abdulmumin, the Acting Director of Corporate Communications Department of the apex bank, made this known on Friday in Abuja.

Isah stated that a considerable amount of the Naira in different denominations had been despatched to various commercial banks for further distribution to their customers.

He also noted that the Federal Government’s bank had ordered commercial banks to make cash available in their Automated Teller Machines, ATMs, and also carry out physical activities in the banking hall.

Urging Nigerians to be patient that the current scarcity of the Naira would be history soon, Isah added that Godwin Emefiele, the CBN Governor himself would head the team that would monitor compliance with the directive.