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

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

 The Kogi State Branch of the Central Bank of Nigeria (CBN) said on Friday that it would not deal with customers who hit their offices with less than £500,000 for the cash exchange process. According to Kogi Branch Manager Ahmed Sule, such customers have to go to the bank to complete the transaction. According to Naija News, he also stated that neither CBN office customers nor those transferred to their respective banks will be paid in cash.

Sule explained that the value of the old notes will be credited to the owner's account. According to the Tribune, on Friday he visited CBN's Hassan Katsina Road, Lokoja's Zone 8, where he was turned away from customers under £500,000 and told to go to their respective banks.

The branch manager said customers above 500,000 should go to his website on his CBN, download the form, fill it out, and submit it to the office for processing. He is confident that if the process is followed, no one will fall into the wrong hands, saying, "The connection has been proven to be secure, and no one will be left behind, so there's nothing to worry about."

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