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Nigerian banks will no longer accept old £20 and £50 notes after December 31, 2021.
The report says that this new measure is to ensure that the cash evacuation is completed properly.
Fidelity Bank Plc informed its clients on Wednesday, November 3 in an email headed;
Withdrawal of outdated 20 and 50 GBP notes from circulation.
The Bank of England has announced the discontinuation of paper £20 and £50 notes beyond September 30, 2022, and the worldwide financial community have been given a year’s notice.
The Statement reads;
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 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.