The Central Bank of the United Kingdom, Bank of England, will be withdrawing £50 and £20 paper notes from circulation effective September 30th, 2022.
This is according to an update by the United Bank of Africa (UBA) in an email sent to customers.
UBA in the email update said; “In line with our promise to keep you up to date on policies that may affect you, please note that the Bank of England will be withdrawing £50 and £20 paper notes from circulation effective September 30th, 2022.
How does this affect you?
By April 1st, 2022, UBA said it will stop accepting £50 and £20 paper notes from “customers at all our branches across Africa and so we advise that you deposit any paper notes that you may have before March 31st, 2022”.