Only Clients With N500,000 Or More Will Be Attended To – CBN

The Kogi State office of the Central Bank of Nigeria has urged anybody possessing less than N500,000 to attend their local banks to exchange them for fresh naira notes.

According to checks at bank offices in Zone 8 of Lokoja, on Hassan Katsina Road, those having less than 500,000 were urged to visit their banks, according to the Nigerian Tribune.

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Ahmed Sule, the CBN’s Kogi Branch Controller, claims that the central bank only pays attention to clients with balances over N500,000.

Sule advised individuals with less money to attend their banks to exchange it.

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 “redemption of currency” website enables users to “establish 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 pleaded with clients who had more than N500,000 to visit the CBN website, download the form, fill it out, and submit it.