Implementation of New Naira Notes

Further to the CBN’s announcement on the redesigning and release of new Naira notes which will be in circulation from December 15, 2022, the information below is provided for clarity.

 Find below what you need to know:

What happens to my 200, 500 and 1,000 notes?

 The existing 200, 500 and 1,000 notes will remain the legal tender until January 31, 2023 when they will no longer have value. The Bank has commenced collection of existing notes Mondays through Saturdays in all of our branches, at no cost to you.

Will my existing notes be exchanged for new notes?

There will be no exchange. Existing cash notes of 200, 500 and 1,000 naira can only be deposited into your Unity Bank account. 

What if my Account is dormant?

It is very easy and seamless. The Account will be activated once cash deposit is made.

Must the deposit be at my domiciled branch?

No. You can deposit your cash at any branch close to you or with any Unity Bank Agent within your location.

Do I have a deposit limit?

No. Regardless of the amount, all cash deposits will be collected and credited into your Account immediately.

Will charges apply for excess deposits?

No. Cash deposits of any amount is FREE

What if I do not deposit at my domiciled branch?

Your deposit of any amount at any of our branches are safe and secured. It will reflect in your account balance.

What about my family and friends without Unity Bank accounts?

An instant account will be opened in their names and cash deposit can be made immediately at no cost to them.

What if I have more questions?

For more information or guidance on this, please contact our 24/7 interactive Customer Experience Centre via our various channels of communication.

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