Nigeria’s central bank beefed up the supply of banknotes to lenders to end shortages that have hampered individual and business transactions and crippled the cash-based economy since January.
Most lenders including United Bank for Africa Plc, Zenith Bank Plc and FBN Holdings Plc called in staff on Saturday and Sunday to help customers access cash in banks or via automated teller machines.
The disbursement, in compliance with a central bank directive, is being monitored “personally” by Governor Godwin Emefiele, according to spokesman Isa Abdulmumin. Residents should have unfettered access to cash within the weekly withdrawal limits, he said by phone from the nation’s capital, Abuja.
Source : Nigeria resolves three-month cash crunch by issuing banknotes