The UBA said, “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.”
By Jeffrey Agbo
The United Bank for Africa (UBA) Plc has announced it will open on Saturday for cash deposits only to help customers transit seamlessly into the era of new naira notes.
The Central Bank of Nigeria (CBN) had on Wednesday announced that N200, N500 and N1,000 notes will be redesigned and will come into circulation on December 15.
According to the CBN, the move is to get more naira notes into banks’ vaults to assist in curbing inflation.
The UBA said in a mail sent to its customers on Thursday that there will be zero charges for all cash deposits, encouraging customers to bring their money to the bank.
The bank said, “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.
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“To help you through this transition we have put together a number of points to guide you.
“Preparing yourself for this transition:
“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 10am to 2pm.
“Zero charges will apply for all cash deposits
“Have your debit card handy for payments on POS 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 purchase of goods and services until cut off date in January.
“If you have any enquiries, our Customer Experience Experts are available to answer all your questions on 0700 2255822, or email us at cfc@ubagroup.com.”