Friday, 17 February 2023

These Are The Step By Step Procedures To Deposit Your Old Naira Notes In Banks ( Not Exceeding 500k )

 Full Procedures For The Deposit Of Old Naira Notes In Banks As Released  By The Banks 

1. We will continue to pay Customers with the 200 naira old bills alongside the new redesigned 200s, 500s, and 1000s bills  until 10th April 2023.

2. CBN will notify the banks when to commence deposit of the old 500s, and 1000s  naira notes ( starts tomorrow, Saturday )

3. A  new app will be lunched by CBN today to enable depositors who still have old 500s and 1000s to fill their details before commencing deposits tomorrow 

4. Customers will completes the CBN app for cash deposits with the required information, walks into the banking hall and deposits a maximum of 500k once between now and 10th April 2023.

5. Customers are not allowed to split the maximum cash deposit amount of 500k, ie a customer is not allowed to deposit 100k today and another 200k tomorrow, this approval is one off as customers are not allowed to deposit more than once within the 60 days timeline ( 10th April 2023 ).

6. The one off Cash Deposits between 0 – 500k will not be immediately credited into the customers account but passed through the CBN STC -Subject to Count GL and the customer’s account credited upon receipt of value from CBN.

7. Customers making deposits above 500k should visit the nearest CBN locations to deposit their cash

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