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CBN Opens Portal For Deposit Of Old Naira Notes - Business - Nairaland

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CBN Opens Portal For Deposit Of Old Naira Notes by OddsDoc(f): 10:05pm On Feb 15, 2023
The Central Bank of Nigeira, CBN has opened a portal for Nigerians to to deposit the old Naira notes by filling up forms.

This development comes after the adjournment of the case on the legality of the February 10, 2023 deadline for the Naira Swap to February 22 by the Supreme Court.

The Supreme Court adjourned the case till February 22, 2023, and ordered that the old Naira notes remain legal tender until it sits next week Wednesday.

Meanwhile, the portal for depositing old Naira notes has opened up on the Central Bank’s official website.

On the portal, which is on cbn.gov.ng, depositors are required to fill in their Bank Verification Number (BVN), phone number, email address, bank details, address, the amount to be deposited as well as the denominations to be deposited, after which a reference number is generated.

A guideline on the deposit of the old N200, N500, and N1,000 banknotes commenced on Wednesday afternoon and is expected to run till Friday, February 17.To deposit their old notes at the CBN branches, customers would be required to have a completed online application form, copy of valid means of identification, and a completed teller. Once the account is verified, the equivalent of the cash would then be deposited in the customer’s bank account.

“The CBN Branches do not open accounts for individuals. As such, Individuals who wish to deposit their old, redesigned notes must have an active account with a Deposit Money Bank (Commercial Bank).

“Individuals who wish to deposit their old, redesigned notes are required to be orderly and comply with the instructions of the security personnel and other staff when in the Bank’s premises. if validation turns out negative, the Bank will return the unvalidated old, redesigned notes in the form deposited,” the guideline reads.
https://www.vanguardngr.com/2023/02/cbn-opens-portal-for-deposit-of-old-naira-notes/amp/

6 Likes 2 Shares

Re: CBN Opens Portal For Deposit Of Old Naira Notes by Apus: 10:09pm On Feb 15, 2023
A welcome development.

However, CBN should Inject more of the new notes into the economy. Ours is more of a cash driven economy. While finding alternatives It shouldn't be a crime to spend cash.

40 Likes 1 Share

Re: CBN Opens Portal For Deposit Of Old Naira Notes by OnyeAshuaUru: 10:09pm On Feb 15, 2023
Nice one.

3 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by Dialpad: 10:11pm On Feb 15, 2023
What is bet naija in this
Re: CBN Opens Portal For Deposit Of Old Naira Notes by FreeStuffsNG: 10:11pm On Feb 15, 2023
OnyeAshuaUru:
Nice one.
smh. CBN Governor is still playing.

19 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by Emmanuella00(f): 10:13pm On Feb 15, 2023
🚶‍♀️🚶‍♀️
Re: CBN Opens Portal For Deposit Of Old Naira Notes by XerXers: 10:27pm On Feb 15, 2023
Those who fail to do so within the deadline will have themselves to blame and will be severely dealt with if they try nonesense. Bye bye to old notes

37 Likes 1 Share

Re: CBN Opens Portal For Deposit Of Old Naira Notes by KdpMaster: 2:06am On Feb 16, 2023
OddsDoc:
The Central Bank of Nigeira, CBN has opened a portal for Nigerians to to deposit the old Naira notes by filling up forms.

This development comes after the adjournment of the case on the legality of the February 10, 2023 deadline for the Naira Swap to February 22 by the Supreme Court.

The Supreme Court adjourned the case till February 22, 2023, and ordered that the old Naira notes remain legal tender until it sits next week Wednesday.

Meanwhile, the portal for depositing old Naira notes has opened up on the Central Bank’s official website.

On the portal, which is on cbn.gov.ng, depositors are required to fill in their Bank Verification Number (BVN), phone number, email address, bank details, address, the amount to be deposited as well as the denominations to be deposited, after which a reference number is generated.

A guideline on the deposit of the old N200, N500, and N1,000 banknotes commenced on Wednesday afternoon and is expected to run till Friday, February 17.

To deposit their old notes at the CBN branches, customers would be required to have a completed online application form, copy of valid means of identification, and a completed teller. Once the account is verified, the equivalent of the cash would then be deposited in the customer’s bank account.

“The CBN Branches do not open accounts for individuals. As such, Individuals who wish to deposit their old, redesigned notes must have an active account with a Deposit Money Bank (Commercial Bank).

“Individuals who wish to deposit their old, redesigned notes are required to be orderly and comply with the instructions of the security personnel and other staff when in the Bank’s premises. if validation turns out negative, the Bank will return the unvalidated old, redesigned notes in the form deposited,” the guideline reads.
Not against it
Hope the website bandwidth is enough before it will start to freeze.

2 Likes 3 Shares

Re: CBN Opens Portal For Deposit Of Old Naira Notes by moscow007: 4:56am On Feb 16, 2023
Only 200naira notes will be remain valid legal tender, deposit your old notes before 22nd or use it as tissue paper.

Endure for one more week or suffer for 4 years, the choice is yours.

Tinubu will never ever, ever ever!! Be President of Nigeria

51 Likes 2 Shares

Re: CBN Opens Portal For Deposit Of Old Naira Notes by cocoboss(m): 4:56am On Feb 16, 2023
It is almost time ., ladies and gentlemen it is almost time for a new Nigeria
Please brace yourselves and make sure you all patriotic Nigerians come out and vote PO/DATTI

Do it because it is the right thing to do
Do it because your education can not be wasted
Do it for the sake of your unborn kids
Do it because you are reasonable and not like those twisted-demented baboons
Do it because your country needs you

GOD BLESS NIGERIA

22 Likes 1 Share

Re: CBN Opens Portal For Deposit Of Old Naira Notes by HayB100(m): 4:57am On Feb 16, 2023
Make them sha no go hack the account, if not, dead body go plenty everywhere oh, I no too trust Naija sites, may we not see evil

2 Likes 1 Share

Re: CBN Opens Portal For Deposit Of Old Naira Notes by Eriokanmi: 4:58am On Feb 16, 2023
Apus:
A welcome development.

However, CBN should Inject more of the new notes into the economy. Ours is more of a cash driven economy. While finding alternatives It shouldn't be a crime to spend cash.
I agree with you. Maybe after next week's election, they'd dispatch more new notes massively across the country via the cbn in each state. I think the reason they're releasing it in piece meal at this moment is to curb vote-buying. You can imagine a north western governor keeping over 20bn naira of the old notes aside, according to mallam buba galadima. How someone like him would now open the cbn porter and fill a form with which he'd deposit such large sum is a mirage. The policy is targeted at people like him. The masses are only at the receiving end.

Maybe this time, Nigerians too would embrace a cashless economy but by force. If we weren't forced to embrace any meaningful policy in Nigeria, we wouldn't learn. That's our character as a nation. The cbn had been preaching this cashless thing for long yet, the level of compliance isn't always encouraging. Sadly, the so-called educated in the society are also affected. You can imagine a graduate saying he always prefers spending cash cos he doesn't do online transaction except he goes to the bank. I have a physiotherapist friend who graduated from OAU in the 90s for instance. He's a much older friend. If this man wants to transfer ordinary 20k, he must visit the bank. I always mock him over this but he doesn't care. It's just a personal orientation, not about school he attended. Many had passed through a reputable university system but chose to remain illiterate in their minds.

Like I always say, I've not been to my bank since 2021 and it was because I needed to renew my atm card and obtain it same day. Even if you don't have an android phone, what about using the USSD codes. Banks do go as far as pasting these codes on their entrance security doors so people can see and copy as they enter yet, all these don't appeal to customers. They'd also flash it as an advert during the news break still, people don't care. The consequences of such negligence is what many are suffering now.

The manner at which those politicians are trooping out in suing the FG is a proof they're not after the masses' interest which they pretend to protect. One of them even sponsored a protest in Edo and some other states yesterday . Anyone who allows himself to be used by them is the most foolish ever lived.

21 Likes 3 Shares

Re: CBN Opens Portal For Deposit Of Old Naira Notes by donziller(m): 4:59am On Feb 16, 2023
Millions are suffering cos of one man

14 Likes 2 Shares

Re: CBN Opens Portal For Deposit Of Old Naira Notes by nautybride: 4:59am On Feb 16, 2023
cool
The CBN wants to mop out the cash in the economy and it isn't providing the amount mopped out.
Is it not that this body is set out to frustrate innocent citizens?
The fight between the Legislature and the politicians in Disguise is nothing but set out to destabilize the nation.

They will all be disappointed. NLC no dey Naija again.

6 Likes 3 Shares

Re: CBN Opens Portal For Deposit Of Old Naira Notes by Tofax: 5:01am On Feb 16, 2023
All those politicians who has never won any election except through vote buying & thuggery should quickly use this window of opportunity now.
That advanced thief & election rigger...Yahaya Bello comes to mind

3 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by bewla(m): 5:03am On Feb 16, 2023
D
Re: CBN Opens Portal For Deposit Of Old Naira Notes by ekukeku(m): 5:03am On Feb 16, 2023
BUT I HEARD DAT FG SAID W CAN SPEND BOTH OLD & NEW TGD ?

NAIJA WHICH WAY

1 Like

Re: CBN Opens Portal For Deposit Of Old Naira Notes by Blazebond(m): 5:16am On Feb 16, 2023
The SUPREME COURT will teach the CBN a lesson about the law next week,the notes will continue to be in circulation till may.

2 Likes 1 Share

Re: CBN Opens Portal For Deposit Of Old Naira Notes by jucijumi(f): 5:18am On Feb 16, 2023
CBN Governor really asking for it.


A massive probe should be carried out on the tenure of the most incompetent CBN Governor Nigeria ever had.

No regard for rule of law, no attempt to write his name in gold.

3 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by atobs4real(m): 5:47am On Feb 16, 2023
OnyeAshuaUru:
Nice one.
What is nice about this?
Look deep and see if people in the remote areas have such facility.

8 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by backnbeta(f): 5:47am On Feb 16, 2023
When will you open portal to pay people new notes? Anuofia undecided

1 Like 1 Share

Re: CBN Opens Portal For Deposit Of Old Naira Notes by atobs4real(m): 5:48am On Feb 16, 2023
Funny CBN.
Can people in the remote areas have facility to this?

6 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by membranus: 6:01am On Feb 16, 2023
Let them close their yeye portal, we have gone beyond that.

Buhari has better talk sense this morning, or else he will book an hurried flight to his Niger hiding house when the nation burns under him.

6 Likes 1 Share

Re: CBN Opens Portal For Deposit Of Old Naira Notes by JaskanFactor: 6:30am On Feb 16, 2023
all they are concerned about is taking the cash, they dont give a dam about what people are going through.
They should be opening portal to ease peoples pain, instead they are asking for the old cash that is still keeping some people alive.
No wonder the airports have been packed with people leaving the god forsaken country that is nigeria, no doubt many going to US Europe who are the nations behind all the ills of nigeria.

They are fleeing the hell created in Nigeria by racists in Europe, for Europe where they get the racist treatment first hand.

May God almighty help the one whom alone was once called Human being now called black man to find a place to call home on this planet of yellow races.

In many ways, those fleeing the country are fleeing from frying pan to fire.



The Europeans running Nigeria already planned to destabilise the country years ago , and as they always do they rehearse it by making a movie , just like they had movies like outbreak to rehears the so called plandemic.

They made the bruce willis movie "Tears of the Sun" to rehearse what they want to do to Nigeria .

Many of the movies they make in hollyweird are rehearsal for future events

Keep posting football, big brother, premier league until you find your nation on the edge of cliff with no way back, sorry to distract you with fake news.

And as they remove deck after deck of what holds the European prison zoo that was Nigeria in place, i can see the goths laughing thier head off, cause nothing gives them more fun than mocking their victims , as they brought in the terrorists, kidnappers, took away the cash , to what ever their dirty filthy wicked minds has to fun for them next.

Be in no doubt, there is a script for what they are doing to Nigeria, and those doing it are having fun, i bet they are even getting out their popcorn and watching from their satellite cameras as they turn normal lifes of Nigerians in to utter chaos.

As they say, the biggest enemy of the wicked is always is accomplice, the wicked always fallout violently in the end.

1 Like

Re: CBN Opens Portal For Deposit Of Old Naira Notes by EnterpriseMan: 6:31am On Feb 16, 2023
membranus:
Let them close their yeye portal, we have gone beyond that.

Buhari has better talk sense this morning, or else he will book an hurried flight to his Niger hiding house when the nation burns under him.
Dey play tongue tongue

1 Like

Re: CBN Opens Portal For Deposit Of Old Naira Notes by EriMma1: 6:36am On Feb 16, 2023
See stress 😬😬😬. Thank God I made sure I got rid of the old notes weeks ago to avoid that stress that always comes with Nigeria things.

I wonder how the aged want to go about this exercise. I can imagine the mad queue. Hmm🤔 🤔

4 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by EmmaLege: 6:39am On Feb 16, 2023
🫣
Re: CBN Opens Portal For Deposit Of Old Naira Notes by Ken4Christ: 6:43am On Feb 16, 2023
Apus:
A welcome development.

However, CBN should Inject more of the new notes into the economy. Ours is more of a cash driven economy. While finding alternatives It shouldn't be a crime to spend cash.

Nonesense. Another stress they want to bring to Nigerians. Everything in Nigeria is stressful. They want people to live their job and stand in another long queue for stupid exercise that banks can handle. Don't we think with our brains.

We all knew the stress of NIN. Now, they want to start another one. Are you not tired of suffering? Who did us?

Even the queues in our normal banking transactions is enough stress. Now, over 100 million Nigerians will go to just only 36 CBN offices in all the states.

Nigerians should reject this process. Just take your monies to the bank. This is absolute madness.

What about those who don't have phones to do it online?

This government should just please leave. May God shorten their days.

2 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by EriMma1: 6:44am On Feb 16, 2023
ekukeku:
BUT I HEARD DAT FG SAID W CAN SPEND BOTH OLD & NEW TGD ?

NAIJA WHICH WAY

Make una dey follow heresies up and down. Don't verify before you follow you hear? That is why many are trapped with the old notes now.

One random lady just started announcing on the streets yesterday that "they said" people should continue using the old notes. Immediately mama I was buying something from heard it, she too started telling her neighbor. I said mama, did you ask the lady where she got the news? Mama now calmed down.

I pity many people.

6 Likes

Re: CBN Opens Portal For Deposit Of Old Naira Notes by Omotosho1090905(m): 6:47am On Feb 16, 2023
Deposit the old notes without new notes to spend Abi. Dey play

1 Like

Re: CBN Opens Portal For Deposit Of Old Naira Notes by Tflex01: 6:48am On Feb 16, 2023
moscow007:
Only 200naira notes will be remain valid legal tender, deposit your old notes before 22nd or use it as tissue paper.

Endure for one more week or suffer for 4 years, the choice is yours.

Tinubu will never ever, ever ever!! Be President of Nigeria

Obi is Buhari pro max. Your suffering continues if you vote Obi.

btw, Tinubu can never lose this coming election. grin

1 Like

Re: CBN Opens Portal For Deposit Of Old Naira Notes by jesmond3945: 6:48am On Feb 16, 2023
FreeStuffsNG:

smh. CBN Governor is still playing.

why cant you lay the blame were it belongs? Why cant your principal force buhari to extend this deadline and save Nigerians?
Leave emefiele, he is just obeying orders.

1 Like

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