Dear Valued Customer,
THINGS YOU NEED TO KNOW ABOUT THE NAIRA REDESIGN POLICY
The Central Bank of Nigeria (CBN) has introduced new 200, 500 and 1,000 Naira notes into circulation and will phase out the existing bills as legal tender on Tuesday, January 31st, 2023.
Here are a few things you should know as you prepare for this transition:
Can I exchange my old Naira notes for the new currency? NO There is no currency exchange program available and you can only get the new Naira notes when you withdraw cash from your Zenith Bank account(s). All old 200, 500 and 1,000 Naira notes must be deposited into an existing or new Zenith Bank account.
What do I do with the old 200, 500 and 1,000 Naira notes in my possession? You must deposit all old 200, 500 and 1,000 Naira notes in your possession into your Zenith Bank account on or before January 31st, 2023. They will have no rnonetary value after this date.
Must I deposit the old Naira notes at the Zenith Bank branch where my account is domiciled? No! You can deposit all old 200, 500 and 1,000 Naira notes into your account at any Zenith Bank branch nationwide, on or before January 31st, 2023.
Is there a limit to the amount or value of old Naira notes I can deposit? NO There is no limit to the amount or value of old 20t0, 500 and 1,000 Naira.
Will I have to pay any excess cash deposit charges? NO The Central Bank of Nigeria (CNN) has implemented a waiver of the excess cash deposit charge nationwide, for all old 200, 500 and 1,000 Naira note deposits on or before January 31st, 2023.
How do I get more information or make enquiries? Simply contact Zenith Direct on +234 1 278 7000, by email on [email protected]
Thank you for banking with us.