We Are Complying With CBN Directive On Old Banknotes – Unity Bank

Unity Bank Plc has begun compliance with the new directive of the Central Bank of Nigeria (CBN) for the acceptance of old banknotes as legal tender for financial transactions across board till December 31, 2023.

A visit by our correspondent to two branches of the bank in Abuja on Tuesday, showed that the bank has started accepting the old notes of N200, N500 and N1,000 from customers in cash deposit.

“There is nothing anybody can do when CBN has spoken. With the new directive from CBN, we have started accepting and paying out the old notes,” a branch manager with the bank who asked not to be named because he doesn’t have the permission of the head office to make official comment on the issue told our correspondent.

After weeks of hibernation and denial, the CBN had on Monday night issued a statement, directing commercial banks and every concerned person(s) in the country to accept the old Naira notes and the redesigned banknotes as legal tender in compliance with a Supreme Court judgement that extended legality of the old notes till December 31, 2023.