Naira Exchange: Only customers with N500K and above will be attended to — CBN

The Central Bank of Nigeria, CBN Kogi State branch issues a directive to exchange old naira notes for new ones only to customers with N500K and above.

Individuals with less than N500K were advised to visit their banks, as the CBN is only attending to customers with above N500K. To aid the implementation of the policy on the deposit of old naira notes, the apex bank created a website for customers to register to deposit their old notes.

Customers with more than N500K are instructed to download and fill out a form from the CBN website and submit it, while those with less than N500K are to submit their completed forms to their respective banks for credit to their accounts.

He disclosed, “There is nothing to fear as the link has been certified safe and no one will be shortchanged whatsoever.”