NigeriaCBN Opens Portal For Deposit Of Old Naira Notes

CBN Opens Portal For Deposit Of Old Naira Notes


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The Central Bank of Nigeria (CBN) has opened a portal for individuals who have old Naira notes to deposit them within the redemptive window.

CBN portal

The exercise is expected to be done by filling up forms and this is coming on the backdrop of 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, which adjourned the case till February 22, 2023, had also said the old Naira notes remain legal tender until it sits next week Wednesday.

Flash Sales

As seen on the portal, 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.

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

The guideline for submission read thus: “Please click here to create your profile, generate reference and print out a receipt for you to proceed to the nearest CBN branch to deposit your old N1000, N500 and N200 notes into your bank account”.

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However, with the Thursday morning broadcast by the Nigerian President Muhammadu Buhari, old N200 notes would still remain in circulation till April 10 as the deadline.

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