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Naira Swap: CBN Rejects Customers With Less Than ₦‎500,000




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The Kogi State branch of the Central Bank of Nigeria (CBN) on Friday declared that it would not attend to customers who stormed its office with less than ₦500,000 for the cash swap process.

According to the Kogi Branch controller, Ahmed Sule, such customers should visit their banks to carry out the transaction.

Naija News understands he also added that no cash would be given to either the customers at the CBN office or those redirected to their respective banks.

Sule explained that the value of the old notes would be credited to the owners’ accounts

According to the Tribune, customers with less than ₦500,000 who visited the Hassan Katsina road, zone 8 location of the CBN in Lokoja on Friday were turned back and advised to visit their respective banks.

The Branch controller said customers with ₦500,000 and above should visit the CBN website, download the form, fill it and submit it at their office while those with less than ₦500,000 should also download the form but take it to their respective commercial banks for processing.

He assured that once the process is followed, nobody will fall into wrong hands, stressing that “there was nothing to fear about as the link have been certified safe and no one will be shortchanged whatsoever”.

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He also said contrary to the experience of last week when the forms were not available for download, the forms are now available on the CBN website.