OUT-OF-SERVICE CBN PORTAL FOR COLLECTING OLD NOTES

The portal created by the Central Bank of Nigeria (CBN) for the collecting of obsolete naira notes is not functioning.

In an effort to facilitate a seamless implementation of the currency redesign policy, the CBN had unveiled the portal on Wednesday. This was in conjunction with the start of its currency redemption exercise.

The webpage, according to the CBN, enables Nigerians to redeem (or deposit) their old N1,000 and N500 notes by filling out an online form on the platform if they were unable to take them to commercial banks before the deadline.

According to a notice on the CBN website, “Please click here to form your profile, generate references, and print your receipt for you to proceed to nearest CBN branch to deposit your old N1000, N500, and N200 notes into your bank account.”

TheCable, however, visited the website on Friday and found that the platform was not operational.

CBN informed consumers that service on the portal was momentarily suspended due to maintenance.

“Service suspension due to maintenance. We’ll be back in a moment. We apologize for any inconvenience this may have caused.

President Muhammadu Buhari declared that the previous N200 notes would remain valid until April 10.

The president declared on Thursday that all existing old N1000 and N500 had lost their legal tender status while discussing the issue in a speech broadcast to the entire country.

But, according to Buhari, the old N1,000 and N500 notes are still redeemable at the CBN and other designated locations.