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The Central Bank of Nigeria (CBN) has released guidelines for the deposit of old notes, including N200, N500, and N1000 banknotes, at any of its branches across the country before the February 17th deadline.
According to the CBN’s announcement, accounts will be credited with the deposited notes following scrutiny instead of exchanging cash.
Additionally, deposits from third parties are not allowed and only valid government identities are accepted when depositing funds.
To access these services during the Cash Deposit Window from February 15th-17th, one must generate a reference code from the CBN portal along with an active bank account with BVN and a completed online application prior to visiting a branch location.
