Banks will stop accepting these banknotes by December 31
Deposit Money Banks in Nigeria have given a deadline of December 31, 2021, for accepting old £20 and £50 notes to enable the proper conclusion of cash evacuation.
Banks such as Fidelity Bank Plc and UBA informed customers in an email on Wednesday titled ‘Withdrawal of old 20 and 50 GBP notes from circulation.
It said, “The Bank of England has announced the withdrawal of paper £20 and £50 notes after September 30, 2022. A year’s notice has been provided to customers and the global banking community.
“In view of this, Fidelity Bank, alongside other Deposit Money Banks in Nigeria, has issued a deadline of December 31, 2021, for acceptance of the stated denominations from the public to enable the proper conclusion of cash evacuation.
“Thus, we advise you to use or deposit your paper GBP notes into your Fidelity Bank domiciliary account by December 31, 2021, to avoid a loss in the value of your money.”©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.