CENTUS NWEZE REPORTINGÂ
Central Bank of Nigeria, CBN, has come out with measures to redeem old naira notes belonging to agitating politicians who may need to swap them for the redesigned currency.
In a bullet point communique, the apex bank and money regulatory body listed details to be followed by anybody in possession of the old naira notes and is hoping to redeem its currency.
Cheiftains of the ruling All Progressives Congress, APC, led by its presidential candidate, Bola Tinubu, speaker, House of Reps, Femi Gbajabiamila and governors under have critcised CBN over the new policy alleging that it was meant to hamper their candidates chances at the polls.
In 2019 election, three bullion vans believed to be loaded with money had been seen, captured in video and still pictures, leaving the Lagos residence of Tinubu.
When asked on the matter, Tinubu had controversially retorted that it was his money and could do whatever he pleases with it.
The APC presidential candidate has been on campaign circuit lementing against the policy, claiming that it was aimed to stop him from becoming president.
But in the new CBN directive, guidelines have been rolled out which will not only ensure redemption of the value of the old notes, depositors of the money would also be made to go through security checks.
“Please note that this is a Cash Deposit Program not a Cash Swap one,” CBN said.
“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 agencies.
“The process may take up to 4 weeks.
“If the validation of account turns out negative, the Bank wil return the deposited notes.
“Third party deposits are not allowed. The account information provided must be that of the depositor,” CBN said.
To deposit the old notes, 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.
“The Cash Deposit Window is open to the public from February 15-17, 2023 between 9am to 2pm daily,” CBN said.
The apex bank further requires that:
+Reference code generated from completed online application form fill on CBN Portal.
+An active Deposit Maney Bank account eg, Access, Zenith, GT, Keystone Banks.
Bank Verification Number (BVN), valid Federal Governrment issued identity card (NIN, Driver’s License, Voters Card, International Passport).