Updated: CBN Denies Document Showing Old Naira Notes Deposit in Its Branches Ends February 17
- The Central bank has denied releasing a document showing steps Nigerians can deposit the old naira notes
- There have been reports that banks and supermarkets are no longer accepting the old naira notes
- Godwin Emefiele also announced that there was no need for the CBN to shift the deadline
PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed!
The Central Bank of Nigeria (CBN) has denied releasing guidelines for Nigerians to return the high-value naira old notes of N200, N500, and N1000.
In a document titled “Guidelines to deposit old N1000, N500 and N200 notes at the CBN,” it was stated that the CBN said it would stop accepting the old note version of the listed denominations on February 17.
The document also explained that the old notes will only be accepted in its branches from February 15- February 17 and an account that will be provided by the depositor shall be credited.
Source: Getty Images
The document also said that the deposit is not a cash swap program and that new notes will not be issued in exchange for old notes, Daily Trust reports.
PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app!
The information reads:
“Please note that this is a Cash Deposit Program not a Cash Swap Program. You will not be issued new notes in exchange for old notes, instead your bank account will be credited after your account is validated by law enforcement."
"This process may take up to 4 weeks. If the validation of account turns out negative, the Bank will return the deposited notes
Third party deposits are not allowed. The account information provided must be that of the depositor.
"Members of the public are required to complete an online application form and generate a reference number before coming to the CBN. Where a customer did not pre-fill their form, he/she will be given the opportunity to fill the form at the Branch.
CBN denies document
However when Legit.ng contacted the CBN's director of Corporate Communications Department, Osita Nwanisobi, he denied issuing the reported document.
According to him, if his signature isn’t on the document, it should be disregarded.
His words:
“If my signature is there, it is from the CBN to the public. Any document my signature is not there, it is not from the CBN to the public.”
“I am not aware of this document. CBN signs every communication they send out to the public."
CBN to arrest PoS operators, naira notes vendors, releases contact details
Meanwhile, the Central bank of Nigeria has expressed its intention to punish PoS operators that charge high withdrawal fees
The CBN is also targeting naira note dealers as it ramps up its efforts to alleviate Nigerians' sufferings
The CBN has also made phone numbers and email addresses available for Nigerians to report offenders
Source: Legit.ng
