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CBN activates portal for old naira note deposits to minimize losses


CBN activates portal for old naira note deposits to minimize losses

By Ahmed Ahmed

The Central Bank of Nigeria (CBN) has activated a portal for the deposit of old naira notes to minimize losses.

The Branch Controller CBN Bauchi Mr Haladu Idris disclosed this at a press briefing on Monday in Bauchi, saying the portal is an opportunity for those who were not able to deposit to come and do so.

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He noted that the old naira notes have ceased to be legal tender since February 10 and would not be accepted for any transactions.

Idris urged the general public to make good use of the opportunity of the extension of depositing old notes to CBN to come and deposit their old notes.

“CBN is ready and open to accept old naira notes from depositors, just come to CBN and deposit old notes, as some commercials have closed and as well stop accepting the old notes.

“Those with the old notes should go to the CBN website and log in to the activated portal and deposit their old notes.

“Henceforth depositing old notes would be in the central Bank premises and adequate arrangements are put on the ground to receive and assist depositors,” Idris said.

According to him, in the process of depositing through the portal, first, you will generate a code with your name and account number

“We will process through internal checks and then collect the money for depositing into your account.

The CBN is providing the opportunity for the public not to lose their money, intending to reduce hardships.

“This is a privilege by CBN for Nigerians to use the portal and deposit before February 17,” he said.

The Controller said CBN has sensitized Nigerians from grassroots towns and cities and also created awareness through the Print and electronic media on the redesigned notes and swapping of old naira notes.

He, therefore, appealed to all Nigerians to work with the CBN to ensure a hitch-free process for the implementation of the policies.

On his part, Dr Abdulkadir Jibrin Director of Medical Services of CBN who led the sensitisation team in Bauchi virtually called on media organizations to provide adequate awareness on the portal activation.

He said media organizations have a vital role to play in the redesigned naira notes and its policies.

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