CBN form for old naira deposit is now in circulation and individuals who still are in possession of their 500 and 1000 naira notes are advised to take out the form and fill it out so as to be able to deposit their old naira notes.
The issue that has been going on in the country about the old and new naira notes has cost a lot of people their peace, sleep, and most of all, their mental health.
Old men and women, young boys and girls, young and old, everyone in Nigeria can say something about the ongoing crisis.
Whether you are the one who has to get the money or note so if you are a Nigerian, everyone can confidently say something about the chaos going on.
While a lot of people have gone to bed hungry because of the cashless economy, a lot of others have gone into enmity with their friends for one reason or the other.
Working so hard to make your money over the years, especially in 2022 and just crossing over to the new year 2023 you hear that the money you have been saving all along is no longer in circulation, that is enough bad news to cause cardiac arrest.
Because of the ongoing crisis and frustration that people have been going through lately, the CENTRAL Bank of Nigeria (CBN) has given Nigerians who still have the old 500 and 1000 naira notes the last chance to deposit their notes in the bank so as to not lose what they have worked for over the years.
A form has been provided online for individuals who still are in possession of the old 500 and 1000 naira notes to deposit them.
The good thing about the portal created to access the form and deposit the old naira notes is that you can fill the form from the comfort of your home.
Read this article to the end to find out how you can deposit your old naira notes with less stress.
CBN Form for Old Naira Deposit
The central bank of Nigeria has launched a portal that individuals can access and fill out a form to be able to deposit their old naira notes. The form is online and notes are sold anywhere.
Ignorance has to be what many people allow to get them to do things even though desperate about them without thinking twice thereby landing themselves into trouble.
If you still have the old 500 and 1000 naira notes with you, do not stop halfway through this article as everything you need to know to be able to deposit the notes is provided here.
The first thing you have to note about the CBN form for old naira deposits is that the form is totally free and can only be accessed online.
In case you see anyone asking you to come to buy the CBN form for old naira deposit have in mind that a lot of people are into money so much so that they can do anything even if it means deceiving the ignorant to get it.
There is nowhere you can purchase the CBN form for old naira deposit, you can only find the portal for the form online and the link to the portal will be provided later in this article.
Recently, President Muhammad Buhari in a national broadcast on Thursday confirmed that the old 200 naira note is still in legal tender and that buyers and sellers can still use it.
The president in the same speech also mentioned that the old 500 and 1000 naira notes were exempted and can only be deposited to the banks when individuals have filled out the form which was provided for them.
The CBN form for old naira deposit is now available and the portal is still open until the 10th of April which seems to be the final grace.
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Conditions to Access the CBN Form for Old Naira Deposit
Before you scroll to find where the link to the portal to access the CBN form for old naira deposit you need to have in mind that there are terms and conditions that came with the launching of the CBN form for old naira deposit and these terms and conditions are to be followed duly and strictly.
Making a simple mistake while filling out the CBN form for old naira deposit may mean and result in you losing your money entirely or something similar to that so, make sure you read through every line of this article to find out every bit of information hidden.
Below is the list of the terms and conditions that came with the launch of the CBN form for old naira deposit and individuals are expected to read through them carefully and follow them strictly.
- The CBN mentioned by the launch of the portal for the deposit of the old naira notes that individuals can only be able to access the portal and fill out the CBN form for old naira deposits once.
- Individuals must make sure that they provide valid documents during filling out the form
- Old naira note depositors are expected to have in mind that any mutilated or imperfect old naira note deposited shall not be recovered therefore the bank does not owe depositors any entitlement as regards that.
- The transaction to deposit old naira notes with the CBN form for old naira deposit is completed after 3 working days
- Any imperfect or mutilated old naira notes may be refunded to the depositor by the bank
- A reference code is generated for any individual after successfully filling out the CBN form for an old naira deposit and the reference code is what is meant to direct depositors to the bank where they can deposit their old naira note. Your transaction may not have been successful if you have not received a reference number to direct you to the bank to deposit your old naira notes.
These conditions are valid and strict for every depositor to follow due. Make sure to confirm and reconfirm your details after the input to make sure you are not making any mistakes.
How to Deposit Old Naira Notes With the CBN form for Old Naira Deposit
Individuals who still have in their possession the old naira notes are called upon to follow the process that will be listed in this part of the article to be able to deposit their old naira notes.
Have in mind that the only old naira notes that you are going to be filling this CBN form for old naira deposit for is only the 500 and 1000 naira notes, the 200 naira notes which is still in circulation following the order of president Muhammad Buhari.
In case you missed it, if you still have your old 200 naira notes, you can use them to purchase from your local markets and anywhere as the president has confirmed it to still be in legal tendency.
If you still have your 500 and 1000 naira in old naira notes, follow the below-listed process to successfully fill out the CBN form for old naira deposit notes.
- Visit the CBN-launched portal to access the CBN form for old naira deposit at https://crs.cbn.gov.ng simply tap here
- Click on get started on the page to create a profile and generate a reference and print out the receipt of your application and reference code
- The reference guides you to the bank where you can deposit your old naira notes and it has to be that bank allocated to you so no matter how long the queue, you are expected to be patient until it gets to your turn, so you can deposit your old naira notes.
- You can create a profile on the CBN form for old naira deposit by filling out the frame where the reference code is generated. To fill out the frame, individuals are expected to fill in the following information (BVN, Email address, phone number, bank account details, the total amount of money to be redeemed, depositors’ personal information like house address, etc).
NOTE: you must fill out the CBN form for old naira deposit correctly to make sure your old new notes are redeemed for you. You can visit the nearest cyber café to you to get the help you need so as to not make any mistakes and to be able to print out your profile receipt and reference.