The Central Bank of Nigeria (CBN) has set up a portal for depositing old naira notes.
According to the CBN, Nigerians can deposit their old 1,000 and 500 notes by filling out an online form.
The notification also included a link to the portal where people could deposit old notes they had in their possession.
“Please click here to create your profile, generate reference and print out receipt for you to proceed to nearest CBN branch to deposit your old ₦1000, ₦500 and ₦200 notes into your bank account,” it reads.
Customers were asked to provide their Bank Verification Number (BVN), email address, phone number, bank account details, depositor information (including house address), and the total amount of the denomination to be redeemed in order to generate a reference number.
GUIDELINES TO DEPOSIT OLD NGN1000, NGN500 AND NGN200 NOTES AT THE CBN
• Please note that this is a Cash Deposit Program, not a Cash Swap Program. You will not be issued new notes In exchange for old notes; instead, your bank account will be credited after your account is validated by law enforcement. This process may take up to 4 weeks.
• If the account validation turns out negative, the Bank will return the deposited notes.
• Third-party deposits are not allowed; the account information provided must be that of the depositor.
• Members of the public are required to complete an online application form and generate a reference number before coming to the CBN. Where a customer did not pre-fill their form, he/she will be given the opportunity to fill the form at the Branch.
• The Cash Deposit Window Is open to the public from February 15 — 17, 2023, between 9 am to 2 pm daily.
REQUIREMENTS
1. Reference cede generated from completed online application form fill on CBN Portal (CBN Currency Redesign Cash Return Portal)
An active Deposit money Bank account e.g. Access, Zenith, GT, Keystone Banks.
3. A bank Verification Number (BVN)
4. A valid Federal Government issued identity card (NIN, Driver’s License, Voters Card, International Passport).
