Step-by-Steps Guidelines To Follow In Depositing Old Naira Notes At The CBN

Amid confusion over the commercial banks’ refusal to take the old naira notes from Nigerians, there are some steps to follow to ensure the banks collect the notes.

The banks had justified their action on the February 10 deadline given by the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, who on Tuesday said there was no need for an extension.

This is despite the Supreme Court ruling that the old notes should be accepted till February 15 when a suit filed by three All Progressives Congress governors would be heard.

“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents. There is, therefore, no need to consider any shift from the deadline of February 10,” Emefiele said while briefing the diplomatic community at the Ministry of Foreign Affairs in Abuja.

However here are the steps to follow:

1. Visit the CBN website and fill an online form to generate a code or go along with the money to the nearest CBN branch in your state to obtain the form and fill.

2. Go along with any means of federal government recognised identification card such the national identity card, voter card or driving licence.

3. A teller would be issued to you at the CBN branch and the old notes will be collected and deposited into your accounts. The operation starts from 9am to 2pm, from February 15 to 17.

However, In a case where a customer did not pre-fill their form, he/she will be given the opportunity to fill the form at the branch.

Requirements are the reference code generated from the CBN portal, an active bank account, Bank Verification Number, BVN, and a valid government identity card.

The advice added that the Cash Deposit Window is open to the public from today until Friday between 9am to 2pm daily.