The United Bank for Africa (UBA) says it will open on Saturdays for the period of the transition between the old Naira notes and the new ones, announced this week by the Central Bank of Nigeria (CBN).
The CBN announced on Wednesday that the existing N200, N500 and N1,000 currency notes will cease to be legal tender from next 31st January, and that they should be returned to the banks in place of the redesigned ones.
According to the CBN Governor, Mr Godwin Emefiele, the redesign would take effect from 15th December.
UBA has therefore adjusted its opening hours to enable customers to deposit their existing Naira notes pending the circulation of new ones in December.
In an announcement on Friday, UBA encouraged its customers to deposit the current Naira notes to the bank before it becomes banned in January.
“On 26th October 2022, CBN announced the introduction of new Naira notes, which will come into circulation on December 15th 2022, whilst existing Naira notes will remain legal tender until January 2023″, the bank’s circular read.
It said to the customers: “Start depositing your existing Naira notes into a UBA branch closest to you.
“Don’t panic, we are adjusting our branch opening hours for your convenience. We will open Saturday (cash deposit only) from 10 am to 2 pm.
“Zero charges will apply for all cash deposits. Have your debit card handy for payments on POS (Point of Sale) terminals.
“If you do not have a digital channel, please download the New UBA Mobile app from your App Store or access one of our other channels – Leo, Internet Banking, *919 for your transactions.
“Remember, present notes can still be used for the purchase of goods and services until the cut-off date in January”.
