Sequel to the directive of the Central Bank of Nigeria (CBN)’s January 31, 2023, deadline for the exchange of old Naira notes, Ecobank Nigeria has again announced to its customers to approach any of its branches to deposit old naira banknotes into their accounts to avoid last minute rush, also assuring them of gaining a minimum of 8% interest on their savings.
The bank in a message said to customers that procedures are in place in all of its branches to guarantee hassle-free, simple cash deposits from consumers, and that the bank’s branches are now open on Saturdays to receive deposits from customers.
Dr. David Isiavwe, Group Head, Operations & Technology, responded to inquiries from the media in Lagos by stating that there are never any fees associated with cash deposits at any Ecobank branch, regardless of volume.
Customers could count on timely service every day of the week, including on Saturdays when the branches are open to accept cash, he informed.
Saying: “We wish to inform our customers not to wait for rush hour to bring their cash to the bank. They should visit any of our branches closest to them to deposit their cash in their account. We have extended our working days to Saturday to enable customers deposit cash. Though we are impressed with the present turn out of customers, there is still the need for others to comply. We don’t want any of our customers to miss the CBN’s deadline.”
It would be recalled that the Federal Government on November 23, introduced new 200, 500 and 1000 banknotes into the nation’s finance sector.
The CBN said the naira redesign policy is to control currency in circulation, address the hoarding of the banknotes outside the banking system and also address shortage of clean and fit banknotes in circulation.
The apex bank stated that the old banknotes would cease to be legal tender in the country from January 31, 2023.
