Tag: Nigerian banks

Nigerian banks to stop accepting old £20, £50 notes from Dec 31

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Banks in Nigeria will stop accepting old £20 and £50 notes from December 31, 2021, according to reports. This is to enable proper conclusion of cash evacuation. Fidelity Bank Plc disclosed this in an email to its customers on Wednesday, Nov 3, titled “Withdrawal of old 20 and 50 GBP notes from circulation”. The email […]

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See what customers will lose for deposits or withdrawals above N500k in Nigerian banks

Bode DoluLeave a Comment on See what customers will lose for deposits or withdrawals above N500k in Nigerian banks

Nigerian banks have notified customers about the extra cash they will lose to the treasury when they make cash withdrawals above N500,000 as individuals or N3million as companies in six states and Abuja. It is a Central Bank of Nigeria directive, meant to give the existing cashless policy a big leap and enhance the efficiency […]

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