The Central Bank of Nigeria (CBN) has announced that the cash deposit window is now open to the public from today till the 17th of February 2023.
The apex bank stated this in a statement while adding that the window will be open by 9am till 2pm daily.
The bank in a statement titled; Guidelines to Deposit Old N1000, N500 and N200 at the CBN, said that the cash deposit program (not cash swap programme) will involve the deposit of old notes and in exchange, the bank would credit the individual account.
The bank noted that the process will take up to 4 weeks while adding that once the validation of the depositor’s account turns out negative, the bank will return the deposited notes.
The statement said: “Third party deposits are not allowed and the account must be the account of the depositor. Members of the public are also required to complete an online application form and generate a reference number before coming to the CBN.
The requirements for this program will include bank verification number, valid federal government issued identity card, an active deposit bank account and reference code generated from the completed online form”