The Central Bank of Nigeria (CBN) Kogi State branch warned on Friday that it would not attend to consumers who rushed its office with less than 500,000 for the cash swap process.
According to Ahmed Sule, the Kogi Branch controller, such customers should visit their banks to complete the transaction.
According to news reports, he also stated that no cash will be issued to consumers at the CBN office or those diverted to their individual banks.
Sule indicated that the previous notes’ value would be credited to the owners’ accounts.
UPDATE: Banks To Start Over-The-Counter Payment Of New Notes
Customers with less than 500,000 who attended the CBN’s Hassan Katsina road, zone 8 location in Lokoja on Friday were sent back and directed to visit their respective banks, according to the Tribune.
Customers with 500,000 or more should visit the CBN website, download the form, fill it out, and submit it at their office, according to the Branch Controller, while those with less than 500,000 should download the form but take it to their respective commercial banks for processing.
He stated that if the process is followed, nobody will fall into wrong hands, emphasising that “there was nothing to fear about as the link have been declared safe and no one will be shortchanged anyhow”.
He further stated that, in contrast to last week’s experience, the forms are now available for download on the CBN website.
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