I got a mail this morning notifying Wema bank customers about the topic. I was surprised though cos i didn't know and i have about £120 at home , saving it pending visiting the UK. So, i decided to visit the Bank of England website and found the details below, so that others (that aren't aware yet) would be informed.

The currency has been changed from paper notes to Polymer notes with adequate security features

And i am thinking that the exchange rate will start declining since most or all of the commercial banks do not want to accept the paper notes . Accordingly, it was said that the paper notes can be exchanged to the newly introduced polymer notes through the post office in England or the Bank of England...

Wahala

I never thought I’d see the day England would switch to polymer notes. The US may do the same next year. Let me go and research the benefits compared to paper.

IamCookie:
And i am thinking that the exchange rate will start declining since most or all of the commercial banks do not want to accept the paper notes . Accordingly, it was said that the paper notes can be exchanged to the newly introduced polymer notes through the post office in England or the Bank of England...

This will not affect exchange rate its not the value that changed and commercial bank abroad will not reject it because the way the operate if reported may face very sanctions

noeloge82:


This will not affect exchange rate its not the value that changed and commercial bank abroad will not reject it because the way the operate if reported may face very sanctions

Yea, i grab. I actually didn't mean "exchange rate " in its strictest sense. I mean the amount it will be exchanged in the Black market(Abokis) ,with regards the paper notes , since the banks are no longer receiving it

meobizy:
I never thought I’d see the day England would switch to polymer notes. The US may do the same next year. Let me go and research the benefits compared to paper.

I seem surprised too !* Now majority of those that criticised Nigeria when it (Polymer notes) was introduced to our lower denominations , would now say nice thingz about it