The Kogi State branch of the Central Bank of Nigeria has ordered individuals with less than N500,000 to visit their various banks to exchange them with new naira notes.
Checks at bank offices located at Hassan Katsina Road, Zone 8 in Lokoja revealed those with less than 500,000 were advised to visit their banks, Nigerian Tribune reports.
According to the Kogi Branch Controller of the CBN, Ahmed Sule, the apex bank is only giving attention to customers having above N500,000.
Sule said those with less amount are to visit their banks to swap their money.
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As parts of efforts arising from the implementation of the policy on the deposit of the old naira notes, the apex bank launched a website for bank customers to register to deposit their old notes.
The website, referred to as ‘redemption of currency’ permits customers to “create a profile, generate a reference and print out a receipt to proceed to the nearest CBN branch to deposit the old N1000, N500, and N200 notes into their bank account.”
Sule implored customers with above N500,000 to visit the CBN’s website to download the form, fill it and submit.
Those with less amounts were advised to submit the completed forms to their respective banks and their accounts would be credited.
He disclosed, “There is nothing to fear as the link has been certified safe and no one will be shortchanged whatsoever.”
He also said that the forms could now be downloaded on the apex bank’s website.