The Central Bank of Nigeria (CBN) has created a portal for bank customers to deposit their old naira notes amid scarcity of new naira notes.
In a notice posted on its website titled ‘Redemption of Currency’, the apex bank provided a link to the portal to enable Nigerians to redeem (deposit) their old notes.
The platform bears the title: ‘CBN Currency Redesign – Cash Return Portal.’
President Muhammadu Buhari in a broadcast Thursday, February 16, 2023, approved the continued use of N200 notes as legal tender across Nigeria.
The president, however, added that the CBN’s directive on the phasing out of the old N500 and N1000 notes remains.
“Please click here to create your profile, generate reference and print out receipt for you to proceed to the nearest CBN Branch to deposit your old N1000, N500 and N200 notes into your bank account,” a notice on the CBN portal reads.
“Please visit this link, https://crs.cbn.gov.ng, ONLY through the CBN website. Go to the CBN branch with the print out.”
To create a profile, a frame is filled where a reference number is generated.
Here, customers are required to provide their bank verification number, email address, phone number, bank account details, depositor information (including house address), and the total amount of the denomination to be redeemed
