Deposit Your Old N1000, N500, and N200 Naira Notes - Webloaded Tech

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Deposit Your Old N1000, N500, and N200 Naira Notes

I know you probably have enough of the old currency, and you are looking for a way to deposit it, despite the fact that Banks are not accepting it.
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On Friday, reports claimed that the CBN had ordered banks to start collecting the old N500 and N1,000 notes from the public. The reports claimed that the apex bank pegged the maximum amount the banks could collect from their customers at N500,000.

This is despite the Supreme Court ruling that the old notes should be accepted till February 15 when a suit filed by three All Progressives Congress governors would be heard.

But in its reaction Friday, the bank urged Nigerians to disregard the claims as it never authorized the banks to take such decisions.

“The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorized messages quoting the CBN as having authorized the Deposit Money Banks to collect the old N500 and N1,000 Banknotes,” the statement said.

“For the avoidance of doubt, and in line with Mr. President’s broadcast of February 16, 2023, the CBN has been directed to ONLY reissue and recirculates the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.

Steps To Follow, Deposit Your Old Naira Notes

  • 1. Visit the CBN website and fill out an online form to generate a code or go along with the money to the nearest CBN branch in your state to obtain the form and fill.

After completing the form, you generate a code, which you either print or bring with you on your mobile phone, and you give us the code and the information contained within. You must fill out the form with basic information about yourself, your account information, and the amount you wish to deposit.

  • 2. Go along with any means of a federal government-recognized identification card such as a national identity card, voter card, or driving license.
  • 3. A teller would be issued to you at the CBN branch and the old notes will be collected and deposited into your accounts. The operation starts from 9am to 2pm, 
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