Dear Valued Customer,
The Central Bank of Nigeria (CBN) announced the redesign, production, and imminent replacement of the 200, 500, & 1000 Naira Notes into circulation on December 15th 2022, and phase out the existing bills as legal tender on January 31st 2023.
FAQ 1: What do I do with my old N200, N500, and N1000 notes?
You must deposit all your old N200, N500, and N1000 notes into your Mutual Trust MFBank Account on or before January 31st, 2023. They will become illegal tenders and have no monetary value after this date.
FAQ 2: Can I exchange my old naira notes for the new currency?
No. There is no currency exchange program available. You can only get the new Naira notes when you withdraw cash from your Mutual Trust MFBank account(s).
FAQ 3: Is there a limit to the amount or value of old naira notes that I can deposit?
There is no limit to the amount or value of old N200, N500 and N1000 notes that you can deposit at any Mutual Trust MFBank branch on or before January 31st, 2023.
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