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Cash Crunch: CBN Orders Banks To Open On Weekends

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In an effort to facilitate the circulation of banknotes of different denominations, the Central Bank of Nigeria has issued a directive to all commercial banks to operate on Saturdays and Sundays.

Additionally, the Central Bank of Nigeria has confirmed that it is currently in the process of evacuating banknotes from its own vaults to commercial banks throughout the country.

This directive was announced in a statement by Isa AbdulMumin, the Acting Director of the Corporate Communications Department at the CBN, on Friday in Abuja.

According to the statement, commercial banks have already received a significant amount of money in various denominations, which will be distributed to their respective customers. The CBN urged banks to conduct physical operations in their banking halls over the weekends in order to facilitate this process.

Excerpts of the statement read: “The CBN has directed all banks to load their Automated Teller Machines, 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.

“The Governor of Central Bank of Nigeria, Mr Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country,” it stressed.

The CBN also urged Nigerians to remain patient as the current situation regarding the circulation of banknotes would soon improve with the injection of additional funds.

As a result of a recent Supreme Court ruling and an upcoming protest by the Nigeria Labour Congress next week, authorities have increased their efforts to put an end to the severe currency scarcity that has affected millions of bank customers throughout Nigeria. This was reported by BIZTELLERS.

 

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Dangote Hosts Kenya’s President Ruto At Refinery

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Kenyan President William Ruto on Friday toured the Dangote Petroleum Refinery and Petrochemicals Complex in Lekki, Lagos, where he was hosted by Dangote Group President and Chief Executive Officer, Aliko Dangote.

The visit comes ahead of the planned September 30 groundbreaking of a proposed 700,000-barrel-per-day refinery in Lamu, Kenya, being developed with Dangote.

ALSO READ: Dangote to Support Two Million Women with Refinery IPO Share Ownership

The Dangote Group had earlier confirmed that Dangote would host Ruto during his visit to the Lagos refinery.

The planned Kenyan refinery is expected to expand refining capacity in East Africa and strengthen petroleum supply in the region.

Ruto had earlier said discussions with Dangote and Africa Finance Corporation CEO Samaila Zubairu focused on financing and final preparations for the project.

Dangote is targeting a combined refining capacity of 2.1 million barrels per day through the planned expansion of the Lekki refinery and the proposed Kenyan facility.

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‘Obi Knows He Is Lying’ — Soludo Camp Releases Documents on ₦363m Workers’ Arrears Payment

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The Anambra State Government has released documents showing the payment of ₦363.381 million as the second tranche of salary arrears owed to former staff, pensioners and next-of-kin of workers of the defunct Anambra State Water Corporation (ANSWC) and Anambra State Environmental Protection Agency (ANSEPA).

The development has intensified the ongoing dispute between Governor Charles Soludo’s administration and former Governor Peter Obi over outstanding workers’ entitlements and the financial obligations allegedly inherited by successive administrations in the state.

Presenting the documents as “Part 3: Evidence that lying is in Peter Obi’s DNA,” the Soludo camp accused the former governor of misleading Nigerians over his record on workers’ entitlements.

ALSO READ: I Won’t Seek Governorship Again, Even If Constitution Is Amended -Peter Obi

“Peter Obi knows we know he’s lying,” the statement said, alleging that the arrears were among workers’ entitlements left unpaid during Obi’s eight years as governor.

According to the documents, the ₦363.381 million payment represents the second tranche provided for under an out-of-court settlement reached between the Anambra State Government and representatives of the affected workers on February 6, 2024.

A memo dated May 22, 2025, and signed by the then Head of Service, Dame Theodora Okwy Igwegbe, mni, requested the release of the second tranche, citing Article 7 of the Terms of Settlement.

The memo stated that ₦363.381 million was due for payment in 2025 under the agreement.

A subsequent Ministry of Finance document dated June 24, 2025, confirmed the release of the funds through Capital Expenditure Release Warrant (CERW) No. 67/2025.

The Soludo administration had earlier paid the first tranche under the settlement, with the government saying the payments were aimed at resolving long-standing salary claims involving workers of the two defunct agencies.

Dispute Over When the Arrears Originated
The latest documents have become central to the political disagreement over whether the outstanding entitlements can properly be attributed to Obi’s administration.

The Soludo camp argues that the continued settlement payments demonstrate that unresolved workers’ liabilities remained after Obi left office in 2014.

Obi’s camp, however, has disputed the characterization. His supporters maintain that his administration inherited substantial salary, pension and gratuity arrears from earlier administrations and cleared billions of naira in outstanding obligations during his tenure.

They have also argued that some of the liabilities involving workers of the defunct agencies originated before Obi became governor in 2006.

The settlement documents establish that the Anambra Government entered into an agreement in 2024 to resolve the outstanding claims and that a second payment of ₦363.381 million was subsequently released.

However, the documents themselves do not conclusively establish that all the underlying arrears were incurred during Obi’s tenure.

 

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Ogun Deep Seaport: Abiodun Thanks Tinubu, Says 30-Year Dream Becoming Reality

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Ogun State Governor, Dapo Abiodun, has expressed appreciation to President Bola Ahmed Tinubu for his support towards the realisation of the Gateway Deep Seaport and Blue Marine Special Economic Zone in the state.

Abiodun described the deep seaport project as a long-standing vision that had been proposed and documented for nearly 30 years but remained unrealised until the intervention of the Tinubu administration.

ALSO READ: FG Preaches Support for Dangote Industrial City, Deep Seaport in Ogun, Ondo States

The governor, in a statement on Friday, acknowledged Tinubu as the “Facilitator-in-Chief” of the transformational project, crediting the President’s leadership and provision of strategic direction for helping to revive the initiative.

According to Abiodun, the vision of establishing a deep seaport along Ogun State’s coastline had been discussed and captured in official documents for decades, but had remained on the drawing board.

“Today, through the foresight, courage and determined leadership of President Tinubu, that long-standing aspiration is finally being transformed into reality,” the governor said.

Abiodun said the Gateway Deep Seaport and the Blue Marine Special Economic Zone would open a new chapter for Ogun State while strengthening Nigeria’s position in global trade, maritime commerce, industrialisation and economic development.

He added that major national projects require political will and leadership capable of turning long-standing plans into tangible development.

The governor also commended the Federal Government for what he described as its unwavering support and commitment towards making the project a reality.
“Posterity will indeed be kind to you, Mr. President,” Abiodun said.

The Gateway Deep Seaport project is expected to form part of Ogun State’s broader strategy to expand maritime infrastructure, attract investment and strengthen industrial and commercial activities along its coastline.

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