Some Deposit Money Banks on Saturday opened their branches
to customers for the purpose of collecting old N500 and N1,000 notes for
deposit into their accounts.
This was contrary to the claim by the Central Bank of
Nigeria that it did not instruct the banks to continue to collect the old notes
from depositors.
On Friday, there were reports that the CBN had ordered banks
to start collecting the old N500 and N1,000 notes from members of the public
and pegged the maximum amount they could collect from individuals at N500,000.
The CBN swiftly issued a counter statement signed by the Director, Corporate Communications, Osita Nwanisobi, saying it did not give such a directive.
The banking regulator stated, “The attention of the Central
Bank of Nigeria has been drawn to some fake and unauthorised messages quoting
the CBN as having authorised the Deposit Money Banks to collect the old N500
and N1,000 banknotes.
“For the avoidance of doubt, and in line with Mr President’s
broadcast of February 16, 2023, the CBN has been directed to only reissue and
re-circulate the old N200 banknotes and this is expected to circulate as legal
tender for 60 days up to April 10, 2023.”
When one of our correspondents visited Access Bank in
Oregun, Lagos, the branch was attending to customers who had succeeded in
filling the required form from the CBN portal, and collecting the old N500 and
N1,000 from them.
The CBN had opened a portal on its website and mandated all
those willing to return their old notes to fill a form and generate a reference
code.
An official at the Access Bank branch explained that, “We
are only collecting deposits of the old notes from those who have filled the
form and generated the code. If you don’t have a code, you cannot enter because
you will not be attended to. We have been open since 10am and will close by
2pm.”
When asked how many times a customer could come and deposit,
he said, “You are required to bring all the deposits at once and it must not be
more than N500,000.
“If it is more than N500,000, you have to take it to the CBN
and we can collect it only once from you because the deposit will be linked to
your BVN.”
At Zenith Bank on Isaac John Street, Ikeja GRA, customers
also came to deposit their old N500 and N1,000 notes before the bank closed by
2pm.
A security guard said, “If you don’t have a reference code,
you cannot enter.”
He explained how to generate the reference code saying, “You
have to go to the CBN website to register on the portal. Some people don’t know
how to do it, but they have been going to cybercafés to generate the code. That
is when you can deposit and it must not be more than N500,000.”
The GTBank at Olowoira in the Ojodu area of the state was
also attending to depositors when one of our correspondents visited on
Saturday.
A security guard, who refused to disclose his identity
because he was not authorised to speak on the matter, said, “We have closed
already, but some people are still inside the banking hall. We closed at 1pm
and only those that had the code were allowed in.
“Some people came but because they did not have the code, we
did not allow them in because it is mandatory. Those who had the code before
1pm were allowed in and some of them are still inside now, but we have closed
for today to those that are just coming.”
Some depositors seen outside, however, expressed
disappointment over the confusing information by the CBN over the collection of
the higher denominations.
A man speaking to one of our correspondents, “I have
N480,000 that I want to deposit but I heard yesterday (Friday) that the CBN
said it did not direct the banks to collect the notes, so I stayed at home.
“Later when someone called me that he was able to deposit
the old notes, I rushed to the bank but was told that they had closed for the
day.
“This is unfair because the information did not circulate.
People were just saying all sorts of things. It is not fair coming here now and
I cannot even enter the bank.”
Another woman standing outside the bank, Florence Ogundeji,
said, “I thought it was not true until I got to the bank. It was then that I
had to go and look for how to generate the code and when I came back, they did
not allow me in. I have been standing outside.”
At the Polaris Bank branch at Olowoira, the security guards
said the collection of the old notes was fake news and the bank did not open to
the public.
However, a young man who was standing in front of the bank
and spoke with our correspondent on condition of anonymity said, “I heard that
we can deposit our N500 and N1,000 notes and that is why I am here.
“I have N170,000 with me but they are telling me that they
are not collecting it.”
When our correspondent visited the UBA at Ojodu, an official
of the bank said, “People have been coming to deposit their old notes, but we
could not attend to them today because even if they have their code, our bank
does not have the pin to verify the code.
“It is true that they can deposit the old N500 and N1,000
notes, maybe if our bank is able to get the pin by Monday, we will begin to
collect the notes.”
At a Sterling Bank branch in Ikorodu, it was observed that
only those who have generated the CBN reference number were being allowed in.
A security officer at a United Bank for Africa (UBA) branch
in the area said the firm has stopped attending to people for the day.
“We will open again on Monday,” he said.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
Local banks did not shun CBN directives rather it was an instruction from CBN to banks to start collecting old notes not more than #500,000. and any amount above #500,000. should be taken to the CBN,please stop deceiving Nigerians with your post and inciting violence.
ReplyDeleteThank you jare
ReplyDeleteThat is what all the whole banks supposed to do.
ReplyDelete