Naira Redesign: Banks Announce Weekend Operations


Nigerian banks announced Friday that their branches across the country will operate on weekends to receive and exchange old notes for their customers.

He Central Bank of Nigeria last December it introduced the newly redesigned N200, N500 and N1,000 as part of efforts to rein in inflation, counterfeiting and corruption. The bank also reiterated that the old bill will cease to be legal tender on January 31.

As part of efforts to facilitate the circulation of the new notes, the main bank has also launched a cash redemption program in local government areas of the country.

On Friday, to complement the effort of the apex bank, some commercial banks announced that their branches nationwide will operate on Saturday and Sunday.

“In keeping with our drive to always put you first, our branches across the country will be open this Saturday, January 28, 2023 and Sunday, January 29, 2023 to receive your old Naira notes from 10am to 2pm.” First Bank said in a message. to account holders.

The lender added that there will be no charges for cash returned or paid to customers’ accounts within the period.

“All old Naira notes of the N200, N500 and N1000 series will no longer be accepted as legal tender from January 31, 2023,” it added.

The UBA in its message also said that its branches will operate and serve customers on the weekend.

GTBank, for its part, urged clients to “save time! Avoid the last minute rush by depositing your old Naira notes at any of our branches today.”

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The lender added that: “Our branches will be open on Saturday January 28 and Sunday January 29, 2023 from 10:00 am to 3:00 pm to receive your cash deposits only.”

Earlier in the week, CBN Governor Godwin Emefiele announced that there is no turning back from the January 31 deadline the bank stipulated for acceptance of the old notes as legal tender among Nigerians.

The central bank has also threatened to penalize any bank caught loading its ATM with old bills.

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Naira Redesign: Banks Announce Weekend Operations

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