Are you among those looking for CBN Old Naira Notes Deposit Registration 2023 Portal? if yes then, we got you covered. If you’re still with the old Nigerian naira notes, ranging from 500 to 1000 and you want to deposit it then follow the procedures below. To avoid fraud and maintain the integrity of the Nigerian currency, the Central Bank of Nigeria (CBN) has created rules for the deposit of old notes. The steps you should follow to deposit old Naira notes are outlined in this article.
Central Bank of Nigeria (CBN) has given a limit on the number of old Naira notes that can be deposited in your bank account in a day. According to the guideline, you are only permitted to deposit up to N500,000 in old Naira notes into your bank account each day. You might need to stretch out your deposits over a few days if you really need to deposit your old Naira notes that are more than N500,000.
CBN Old Naira Notes Deposit Registration 2023 Procedures
There are a few things you should be aware of to make the procedure as simple as possible if you have old Nigerian Naira notes that you want to deposit.
Step 1: Get your Old Naira Notes
The old naira notes you want to deposit should be identified in the first stage. The formal N500 and N1000 notes have all been named “old notes” by the Central Bank of Nigeria (CBN). These notes have been used for a long time and could be worn out or damaged.
Step 2: Arrange and Count the Old Naira Notes
After arranging the old notes, sorting and counting them, now you’re set to visit any of the bank branch in your area that accepts old naira note. Before old notes can be deposited, the CBN asks that they be tallied and sorted by denomination. By doing this, scammers are prevented and the right amount will be deposited in your bank account.
Step 3: Go to Your Bank For a Deposit
You need to go to your bank to deposit your old Naira notes. The majority of banks in Nigeria accept old notes as deposits, but it is a good idea to make sure your bank does as well by calling ahead of time. The quantity of the old notes you are depositing, along with the details of your account, must be provided.
Step 4: Fill out the Bank Deposit Form
You’ll have to fill out a deposit form when you get to the bank. You will need to fill out a form with your account information and the number of old notes you are depositing. To approve the deposit, you must sign the form as well.
Step 5: Submit the Old Notes and Deposit Form to the Cashier
You are to hand the old notes and the deposit form to the bank teller once you have finished filling it out. The teller counts the notes and checks to make sure they are the right value and are in good shape. The teller will let you know if the notes have any problems.
Step 6: Finally, Wait for Confirmation
The deposit amount will be credited to your account once the teller has confirmed the old notes. As evidence of the deposit, you ought to be given a receipt. The deposit could not appear in your account for a few days, depending on the bank.
Check Also: CBN Old Naira Notes Deposit 2023 Form Portal – www.crs.cbn.gov.ng
The procedure for depositing old Naira notes is very simple, but it’s important to also obey to the CBN’s rules. You may make sure that the deposit procedure goes successfully by sorting and counting the notes, filling out the deposit form, and delivering the old ones to the bank. Don’t forget to reach out to your bank ahead of time to make sure you may deposit old notes there.