Deposit Money Banks in Nigeria have issued a deadline of December 31, 2021 for the acceptance of old £20 and £50 notes.
Fidelity Bank Plc, one of the banks, made this known in an email to customers on Wednesday titled ‘Withdrawal of old 20 and 50 GBP notes from circulation’.
It reads: “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 proper conclusion of cash evacuation.
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“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.”