From December31, Nigerian banks will no longer accept old £20 and £50 notes.

From December31,2021, Nigerian banks will no longer accept old £20 and £50 notes.

This 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Fidelity Bank Plc informed its clients on Wednesday, November 3 in an email headed “Withdrawal of outdated 20 and 50 GBP notes from circulation.”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 September30,2022,” according to the email. Customers and the worldwide financial community have been given a year’s notice.

“In light of this, Fidelity Bank, together with other Deposit Money Banks in Nigeria, has set a deadline of December31, 2021 for the public to accept the indicated denominations in order to complete the cash evacuation process properly.”

“To avoid a loss in the value of your money, we recommend that you utilize or deposit your paper GBP notes into your Fidelity Bank domiciliary account by December31, 2021.”

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