The Central Bank of Nigeria (CBN) in Kogi has instructed customers with amounts less than N500,000 to visit their banks to exchange their old currency for new notes.
The bank office along Hassan Katsina Road in Zone 8, Lokoja, is only servicing customers with N500,000 and above, resulting in a significant reduction in visitors to the branch. Ahmed Sule, the Kogi branch controller, stated that customers who exchange their old notes will have their accounts credited without being given cash, whether at the CBN or any other bank.
Customers with N500,000 and above are advised to download a form from the CBN website, complete it, and submit it, while those with smaller amounts are instructed to submit their completed forms to their respective banks.
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