CBN Portal to deposit old notes was developed by the Central Bank of Nigeria to help Nigerians both those at home or in the diaspora to deposit all the old note that is currently with them. The Central Bank of Nigeria through the leadership of Godwin Emefiele has withdrawn the rights of old currencies of N200, N500, and N1000 to be used as legal tender anymore.
On this note, anyone with the old N200, N500, and N1000 will not be able to transact business with them again, however, the CBN financial institute has developed an online website for depositing the old currencies in respect of the N200, N500, and N1000 notes. He noted that the old three pairs will no longer be accepted as legal tender but can be accepted by CBN in exchange for an equivalent amount deposited.
In this article, you will learn how to use the CBN Portal to deposit old notes by following the step-by-step tutorials I have outlined below.
How to Deposit Old Naira note with CBN
To deposit all your old Naira notes, kindly do the following
- Go to the official CBN Portal to deposit old notes via https://crs.cbn.gov.ng/
- Click on “Get Started”
- Select “New Depositor”
- Fill out the form on the Next page
- Click Generate Reference Number
- Take the Reference Number with your old N1000, N500, and N200 notes to the CBN for redemption
After submitting this reference form with your old naira notes, a tracking code with be given to you to monitor your deposit. You are expected to get the money in equivalent deposited into your account within 14 days after initiating the transaction with the Central Bank of Nigeria.
CBN Portal to Deposit Old Notes Requirements
- Reference code generated from the CBN Portal to Deposit Old Notes
- An active Deposit Money Bank account e.g. Access, Zenith, GT, Keystone Banks.
- A Bank Verification Number (BVN).
- A valid Federal Government issued identity card (NIN, Driver’s License Card, Internationa Passport)
While you are waiting for your deposit, you can track any comment regarding your old naira note by following the instruction below.
How to Track your Old Naira Note on the CBN deposit Portal
You can track comments about your transaction on the CBN portal by following the steps below
- Go to https://crs.cbn.gov.ng/
- Click Get Started
- Select “Deposit Tracking”
- Enter your Bank Verification Number and the Tracking reference number
- Click “Search”
It is important to note that the CBN has branches in all 36 states of the federation, and headquarters in Abuja where you can deposit all the old notes at your convenience.
To use the CBN Portal to deposit old notes, you will have to create your profile, generate a reference, and print out a receipt for you to proceed to the nearest CBN branch close to you to deposit your old N1000, N500, and N200 notes into your bank account.
- Please visit this link, https://crs.cbn.gov.ng, ONLY through the CBN website.
- Go to the CBN branch with the printout.
The old N200, N500, and N1000 have ceased to be legal tender in Nigeria.