In line with CBN directive, Banks open for work weekends

Mrs Ngozi Ugoh, a customer at Access Bank said that although she did not know about the CBN directive, she entered to get some cash when she saw a large crowd in her bank.

In line with cbn directive, banks open for work weekendsBanks in the Federal Capital Territory (FCT), on Saturday, opened for business as directed by the Central Bank of Nigeria (CBN).
The News Agency of Nigeria (NAN) correspondent who monitored some banks in the Territory, reports that huge crowds of customers were seen at banks’ Automated Teller Machines (ATM) galleries.
NAN also reports that customers were also seen standing on queues entering the banking halls one after another.
The banks that opened for operations along Nyanya-Mararaba road include First City Monument Bank (FCMB), United Bank for Africa (UBA), Zenith Bank, First Bank, Fidelity Bank, Ecobank, and Access Bank, among others.
Mrs Ngozi Ugoh, a customer at Access Bank said that although she did not know about the CBN directive, she entered to get some cash when she saw a large crowd in her bank.
”I didn’t know about the directive of opening at weekends but I was just passing by and saw people so I entered to see if I can get some cash,” she said.
Another customer, Mr Andy Jerry seen at Zenith Bank described the development as a welcome one.
He alleged that banks were complying with the CBN directive to work during the weekend to shelve the planned protest by the Nigeria Labour Congress (NLC) to the apex bank.
”I think the CBN compelled banks to work weekends so that the protest by NLC will not hold.
”I like this because it will give more time for people to access cash,” he said.
Miss Stephanie Ikpe commended the CBN for the directive.
She said the development would help reduce the cash crunch currently being experienced by the masses.
Ikpe appealed to the CBN to monitor banks to ensure that their weekend’s operation continued.

Checks by the News Agency of Nigeria (NAN) also a saw huge crowd of customers, with bank officials making efforts to meet their cash needs.

The banks were, however, dispensing the old Naira notes.

While a few of the banks had their Automated Teller Machines (ATMs) dispensing cash, others simply attended to their customers through the counters.

At the Access Bank branch on Gado Nasko Road, Kubwa, customers were allowed to withdraw a maximum of N20,000 through the counter and N10,000 from the ATMs.

Non-Access Bank customers were, however, allowed to withdraw a maximum of N2,000 from the ATM.

At Fidelity Bank branch on the same axis, the ATMs were yet to start dispensing cash, but customers were allowed to withdraw a maximum of N10,000 from the counters.

The Stanbic IBTC branch allowed for a maximum withdrawal of N30,000 through the counter, while the ATMs were not dispensing.

Some other banks like First Bank, Guranty Trust Bank (GTB), United Bank for Africa (UBA), Union Bank and Unity Bank also had a large turnout of customers.

A resident of Kubwa, Abbas Ibrahim, expressed relief that the CBN had finally allowed the use of the old Naira notes till December.

“At least, between now and December all the stakeholders sould have been fully prepared for the Naira redesign,” he said.

Another resident, Sule Aliu, also commended the apex bank for directing banks to work during the weekend.

“At this rate, within the next one week the situation will become normalised, ” he said.

The News Agency of Nigeria (NAN) reports that the CBN had on Friday, confirmed the evacuation of banknotes from its vaults to DMBs across the country.

In a statement by Dr Isa AbdulMumin, the Acting Director, Corporate Communications, the apex bank also directed all DMBs to open for operation on Saturday and Sunday to meet their customers’ demand.

According to AbdulMumin, a substantial amount of money in various denominations had been received by the banks for onward circulation to their customers.

“The CBN has also directed all banks to load their Automated Teller Machines (ATMs) as well as conduct physical operations in the banking halls through the weekends.

“Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs,” he said.

He said that the CBN Governor, Mr Godwin Emefiele would personally monitor compliance of the commercial banks to the directive.

He urged Nigerians to exercise patience as the current situation would soon ease off with the injection of more banknotes into circulation.

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