First bank, EcoBank, Access Bank, Others Adjust Closing Days & Time, prior to the Circulation of New Naira Notes

 By: Admin. 

Nigerian banks have announced modifications to their operating hours in order to assist Nigerians hording soon-to-expire Naira currencies. 

The banks with immediate effect have already announced that they have delivered notifications of their working hours via their social media channels and customers emails- On December 15, 2022, the Central Bank of Nigeria will begin the circulation of new Naira notes In consonance with the Central bank of Nigeria's plans to mop up naira notes from the economy, commercial banks have announced changes in operation. In a separate email to their customers and social media posts, the banks revealed that the decision is to help customers beat the deadline of January 31 set by the CBN.

The governor of the Central bank, Godwin Emefiele, said the plan to redesign Naira notes denominations of N200, N500 and N1000 would allow the bank to mop up N2.73 trillion out of the N3.23 trillion currency in circulation that is outside the vaults of commercial banks.

First bank, in a notification titled we are open on Saturday, said: 'A number of our branches nationwide are now providing Saturday banking services to our customers from 10am – 1pm' .

Ecobank Ecobank also has a similar message: "You can now deposit your old banknotes ahead of the January 31st, 2022 deadline. We will be open from 10am to 3pm"