The CBN reference code is as important to a depositor of the old naira notes as their money is to them.
If you are one of those who still have the old naira notes in their saving box or anywhere around them and obviously you do not want to throw it into the dustbin, you need to hurry and fill out the CBN form that is available on the newly launched CBN website for the deposit of the old naira notes.
You can access the portal freely and be able to easily fill out the form to be able to deposit your old naira notes, it is so easy to do only that depositors will need a printout of their receipt and reference code I bet you know how important the reference code that will be provided ou on the CBN portal for the deposit of the old naira notes is to the deposit of your money.
As much as almost everyone in Nigeria today is desperate to lay their hands on some cash no matter how little it Is much more important that individuals who are interested to deposit their old naira notes carefully follow the guidelines to successfully fill out the form for the deposit of the old naira notes and deposit their old naira notes which they still have in their possession.
If you are one of such individuals who should rush to the CBN portal to create a profile and deposit their old naira notes then you need to know how important the reference code is to the depositor which is you.
Filling out the form is very important and doing that correctly is more important but what is the most important is the reference code because when individuals have filled out the form, they need to have the knowledge of what to do with the reference code to be able to deposit their money.
Do not stop halfway through this article, make sure to read it through to the end to find out even hidden information about the CBN reference code, how to use it to successfully deposit your old naira notes, and how it affects the deposit of your old naira notes.
What is the CBN Reference Code?
The CBN reference code is a code that individuals get when they have created a profile in their quest to deposit their old naira notes and that is what determines a large percentage of whether individuals will be successful with their cash deposit or not.
The CBN reference code is given to depositors uniquely that two people cannot have the same code no matter how similar they look so it is very impossible for people t cheat the CBN by faking the reference code.
When individuals have successfully created their profile, they are expected to proceed to print out their receipt and reference code and the reference code is what directs individuals to the CBN branch where they can deposit their old naira notes.
Individuals who are careless about and lose their reference number should have in mind that they can no longer be able to deposit their old naira notes as the reference code is the main thing that directs you to the CBN branch to deposit your money no matter how big or small.
Factors that May Affect the Deposit of old Naira Notes Including the CBN Reference Code
The CBN deposition portal is open and only accepts access and disposition from the main person that wants to deposit the money that is to say that third-party application is not accepted and may totally be canceled.
Once your access s denied and the application canceled just have it in mind that you can no longer be able to deposit your old naira notes.
The reference code is very important so depositors are advised to make sure they print it and or carefully write it down somewhere so they do not misplace it as that may mean they lose access to the money forever.
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How to Generate the CBN Reference Code
The CBN reference code is automatically generated when individuals have completely and successfully filled out the form on the CBN official deposition portal. As has been said, the CBN deposition portal only accepts applications for deposition once and from the main individual.
If you have issues and probably cannot see well or read and require help from a third party, you need to make sure to be there while they help you fill the form as much as it may be risky because you will have to fill the space provided with your BVN and a third party doing that for you may tempt them to copy you BVN.
You can get a trusted person to help you do that and when the filling of the form is done, proceed to print out your form receipt and then to the bank that you were referred to deposit your money, such amount of money no matter how little should not go to waste for anything.
The steps to generate a CBN reference code to be able to deposit your old naira notes are as follows;
- Proceed to the official cash deposit portal that was launched by the CBN here
- Fill out the form correctly with your details as required(account details, BVN, phone number, email address, the total amount of 500 naira notes and the total amount of 1000 naira notes separately, then the total of the two together in the spaces provided respectively)
- Right below the form is the green mark which you can tap on to generate your CBN reference code to be able to deposit your old 500 and 1000 naira notes.
- Get your printout and proceed to the direction in the reference code to deposit your money.
How to Recover Lost CBN Reference Code
If you filled out the form for the deposit of the old naira note but for some reason or the other you have to lose your CBN reference code it is such a sad news
You have to have it in mind as it is being emphasized in this article that, once you have lost your printout which has your CBN reference code on it and you cannot access the soft copy as you are not allowed to access the portal twice to fill the form to deposit your old naira notes so that means that,
Losing your CBN reference is equivalent to not being able to deposit your old naira notes you might as well dumb it as a refusal or keep it in case the CBN changes their mind and gives another grace for those who still have theirs to deposit again.
I do not see that happening so it is important you are careful with your CBN reference code so you do not lose it.