If you’re one of the many Nigerians who are concerned about what to do with their old N1000, N500, and N200 notes now that they’re no longer being accepted at commercial banks, supermarkets, and filling stations, then you’ve come to the right place. The Central Bank of Nigeria (CBN) has provided guidelines on how to deposit your old naira notes in any of their branches across the country.
Where to Deposit Old Naira Notes?
The CBN has branches in all 36 states in Nigeria. Therefore, finding a branch near you should not be a difficult task.
How to Deposit Old Naira Notes in CBN?
The process of depositing old naira notes in the CBN is straightforward. Here are the steps to follow:
Step 1: Visit the CBN Portal
Visit the CBN website at www.cbn.gov.ng and navigate to the Currency Redesign and Exchange section. Fill out the form with accurate information about yourself, your account information, and the amount you wish to deposit.
Step 2: Fill Out the Currency Redesign and Exchange Form
Provide accurate information when filling out the form to avoid any errors or delays. Also, choose if you prefer to have the new notes sent to your bank account or if you’d like to receive them in cash.
Step 3: Generate a Code
After filling out the form, generate a code, which you can print or save on your mobile phone. The code is essential for the exchange process and must be presented at the CBN branch.
Step 4: Visit a CBN Branch
Visit any CBN branch in Nigeria with the old naira notes and the generated code. The CBN will verify the authenticity of the notes before exchanging them for new ones.
Completing the Form
The Currency Redesign and Exchange form requires basic information about yourself, your account information, and the amount you wish to deposit. Make sure to fill out the form accurately to avoid any errors or delays in the exchange process. You should also keep a copy of the form and the generated code for your records.
If you still have old naira notes and don’t know what to do with them, don’t worry. The CBN has provided a simple and straightforward process for depositing them in any of their branches across Nigeria. Follow the steps outlined above and exchange your old notes for new ones with ease. If you have any questions or concerns, don’t hesitate to reach out to the CBN for assistance.