CBN old naira notes portal – How to deposit old Naira notes in CBN

CBN old naira notes portal – Are you looking for the official CBN portal for deposit? If yes, you are in the right place. In this article, we will show you the CBN portal for deposits as well as how to deposit old notes in CBN.

On Monday, February 13, 2023, CBN Branch Controller in Bauchi Haladu Idris Andaza informed the press that, despite a pending Supreme Court ruling, the old naira notes were no longer legal tender as of February 10, 2023.

As we speak, supermarkets, other big stores, and filling stations have also rejected the old naira notes. If you still have the old Naira notes with you, all you need to do is to visit the official CBN portal for old naira notes to download the CBN old Naira form.

CBN portal for deposit

The Central Bank of Nigeria, CBN has opened a Portal where you can return old Naira notes because as of today, Commercial Banks are not accepting the old notes anymore.

All you need to do is to visit the official CBN portal for deposit and download the CBN form for old notes, fill it out, take it to any CBN branch, and make the deposit. Read more for details.

In response to calls for a solution, the Central Bank of Nigeria has issued detailed instructions on how Nigerians can return their old naira notes. Nigerians who still have the old N1000, N500, and N200 notes to visit any branches across the country to deposit them.

CBN portal for naira swap

This is to inform the general public that the cbn portal for naira swap is only opened for deposit and not for exchange of old naira with new notes.

How to deposit old Naira notes in CBN

Follow the instructions below;

1. Visit the Official CBN Old Naira form portal 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. You must fill out the form with basic information about yourself, your account information, and the amount you wish to deposit.

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.

Andaza went on to explain how Nigerians can return their old notes:

“The customer has to go to the CBN portal and fill a form in the portal, there will be a form there relating this currency redesign and exchange.

“After completing the form, you generate a code, which you either print or bring with you on your mobile phone, and you give us the code and the information contained within. You must fill out the form with basic information about yourself, your account information, and the amount you wish to deposit.

“When you are done, you visit our branches with the code as well as the money, we will received, processed, and confirmed the legitimacy or otherwise of the money to prevent getting fake notes because there are some fake notes in circulation presently.”

In his own statement;

“We will receive the money from you and do our internal checks before we give you an acknowledgement which is evidence to show that we have collected that amount from you and we go ahead with our internal processes, after finishing with the internal processes, we now hit your account and credit it through your Commercial bank.

“All commercial banks are required to deliver all old notes deposited with us, and we will collect, that is the final. Some banks have begun depositing with us because they want to close their books; once that is done, they will no longer collect from customers; this is why the CBN decided to open this portal for the general public, particularly the vulnerable, who are still having problems with cash used for trading and now that the deadline has passed, they must deposit their money.

According to Andaza, the portal will remain open for a period of time, depending on the circumstances and management directives.

“We anticipate that individuals will be able to deposit the old naira notes with us during this time period; it is a privilege granted to Nigerians to guarantee that their money is deposited even if it is no longer legal tender.

“We went around nearly all the villages in Bauchi state with certain commercial banks encouraging people to create accounts, which many of them did and were able to deposit their money; I wonder if there are still individuals who have not keyed into the system currently who are still holding old money.

“We used the media, the NOA, and traditional rulers to inform the public that there is no limit on the amount that can be placed as long as the form is correctly completed.

“There are several firewalls that can safeguard anybody using the portal, therefore there is no need for concern.”

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