This weekend may see an end to the cash needs of lamenting Nigerians as the Central Bank of Nigeria (CBN) claims it has emptied its vaults of old Naira notes to banks for pay-out to customers.
In addition, the apex bank has directed banks to work through Saturdays and Sundays to ease the cash crunch in the country.
In fact, the CBN Governor, Mr. Godwin Emefiele, will be leading teams out to monitor compliance of banks
The CBN’s moves may also be a card to cancel out the planned picketing of all its branches and headquarters in Abuja by an angry Nigeria Labour Congress (NLC).
NLC has fixed next Wednesday to begin a nationwide strike over the cash scarcity that has combined with an excruciating and recurring fuel scarcity to create tension in the land.
It was gathered that with the simmering anger over the outcome of the elections, a quick resolution of the cash crisis was actibated by government to stave off a massive national crisis.
Meanwhile, the Acting Director, Corporate Communications Department of the CBN, Isa AbdulMumin, disclosed on Friday in Abuja that the CBN action was part of a coordinated effort to ease the circulation of banknotes of various denominations in the banking system.
He said the CBN has also directed all commercial banks to work extra hours by ensuring they remain open for operation on Saturdays and Sundays to be able to serve their customers.
In addition, the CBN has directed all banks to ensure that their Automated Teller Machines (ATMs) were sufficiently loaded with cash, while other channels of conducting physical operations in the banking halls were open for normal business through the weekends.
