Bank tells Nigerians what to do with old Naira notes, alerts on deadline

    Following the announcement made by the Central Bank Bank of Nigeria to redesign the N200, N500 and N1,000 notes, the United Bank for Africa Plc, has outlined a number of points to help guide its customers through the transition.

    Tori Media had reported that the CBN Governor, Godwin Emefiele, had during a special press briefing in Abuja, announced that the introduction of the new naira notes will take effect from December 15, 2022.

    According to a statement issued on Thursday, the bank advised its customers to start depositing their existing naira notes into any UBA branch closest to them.

    The bank explained that there was no need to panic as they are adjusting their branch opening hours for their convenience, adding that on Saturday (Cash deposit only) will commence from 10am to 2pm.

    The statement revealed that zero charges will apply for all cash deposits made during the period. 

    Customers were also advised to have their debit card handy for payments on POS terminals and for those who don’t have a digital channel, to download the New UBA Mobile app from App Store, or access other channels – Leo, Internet Banking, *919# for their transactions.

    The bank, however, reminded its customers that present notes can still be used for the purchase of goods and services until cut-off date in January.