THE Central Bank of Nigeria (CBN) has created a portal for the collection of the old naira notes as it looks to begin its currency redemption exercise.
The CBN published a notification titled ‘redemption of currency’ on its website today.
The notification provides a link to the portal to enable Nigerians redeem (deposit) their old N1,000, N500, and N200 notes by completing an online form.
“Please click here to create your profile, generate reference and print out receipt for you to proceed to nearest CBN branch to deposit your old N1000, N500 and N200 notes into your bank account,” it reads.
To generate a reference number, according to CBN, customers are required to provide their bank verification number, email address, phone number, bank account details, depositor information (including house address), and the total amount of the denomination to be redeemed.
In attempts to create a profile and generate a reference number, a notification will pop up listing ‘conditions for redemption of currency’.
Part of these conditions (which Nigerians must accept) is that “depositors can only access this window once”.
The apex bank also said “beneficiary accounts would only receive value after successful processing of cash deposited and verification of documentations submitted”.
“A depositor shall not be entitled to recover from the bank the value of any mutilated or imperfect notes. The circumstances under which such notes may be refunded ex-gratia shall be within the absolute discretion of the bank,” it added.
“Depositors can check the status of transaction on the portal here.
“Transactions would be concluded within a minimum of three working days. All deposits will be treated in accordance with the relevant laws.”
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YOU WANT TO ASK THESE IMCAPABLE OFFICERS OF THE CBN. HOW MANY PEOPLE IN NIGERIA COULD POSSIBLY PERFORM THE ABOVE SCHEME CONCLUSIVELY IN A PLACE WHERE EDUCATIONAL LEVEL IS AT A LOW WITH INADEQUATE INTERNET SERVICES.
The question remains if the CBN would discountenance the ruling and judgement of the court if it rules otherwise with an order of the court for the old notes to remain legal tender against the reckless illegal and planless misstep of the CBN in throwing the country into chaos and unnecessary harrowing anguish.
THESE CROP OF OFFICERS AT THE CBN SHOULD HAVE BEEN REMOVED AND REPLACED. LEST THEY FURTHER EXCERBATE THE AGONY OF THE PEOPLE OVER A SENLESS THOUGHTLESS POLICY.
We shall see which body and or institution has the final say on legality in Nigeria. The Supreme court or the CBN!
THE SUPREME COURT EX-PARTE ON VALIDITY OF THE OLD Naira STAYS TILL NEXT HEARING 02/22.
WHICH PDP STATE OR GOVERNOR JOINED THE SUIT? NONE BY THE LAST COUNT.
The PDP prefers CHAOS, does not want ELECTION because it is HOPELESS and DESPODENT.
AND NOW, WE KNOW WHICH PARTY AND THE ANTI PEOPLE WHO WISH THE POPULACE HARDSHIP AND ANGUISH. THE PDP OF COURSE.
To the incompetent unprofessional so call professionals at the CBN headed by one clueless tactless and thoughtless Emefiele. The supreme court of Nigeria is the LAW of the land and holds sway over all legal matters in the country, not the Emefiele CBN that cannot gauge and or measure the pulse of the nation.
THE BUNCH AT THE CBN SHOULD HAVE BEEN RUTICATED DISBANDED ND DISCARDED LONG TIME AGO, THE MOMENT THE AGONY OF THE PEOPLE BECAME VISIBLY UNBEARABLE. WHICH IS WHAT WOULD HAVE HAPPENED IN A SANE CLIME.
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