CBN Portal to Deposit Old Notes currently Out of Service
The portal created by the Central Bank of Nigeria (CBN) for the collection of old naira notes is currently unavailable.
As part of its efforts to ensure a smooth implementation of the currency redesign policy, the CBN had launched the portal on Wednesday in order to begin its currency redemption exercise.
According to the CBN, the portal allows Nigerians who were unable to take their old N1,000 and N500 notes to commercial banks by the deadline to redeem (or deposit) them by filling out an online form on the platform.
However, when Our correspondent visited the site on Friday, the platform was out of service.
In a notice to customers, CBN stated that the portal’s service was temporarily suspended for maintenance.
“Disruption of service for maintenance We will be returning shortly. We apologize for any inconvenience this may cause,” the notice states.
President Muhammadu Buhari has extended the validity of the old N200 banknotes until April 10.
In a televised address to the nation on Thursday, the president announced that all old N1000 and N500 bills are no longer legal tender.
However, according to Buhari, the old N1,000 and N500 notes are still redeemable at the Central Bank of Nigeria (CBN) and designated locations.
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