CBN LAUNCHES CASH SWAP PROGRAMME

Pricey Enterprise Homeowners,

In keeping with the CBN’s Naira Redesign coverage to make sure the speedy assortment of latest notes,

The Central Financial institution of Nigeria is launching a money swap programme, and you’ve got been chosen as one of many brokers to assist implement this new programme.

What’s the Money Swap Programme?

The programme permits residents to trade outdated Naira notes for redesigned notes.

The initiative takes impact from Monday, January 23, 2023 as follows:

• Chosen brokers are to go to any branches of UBA, Entry, FCMB, FBN or Zenith round them to withdraw no more than 500K new notes weekly and swap with outdated notes.

• The swap ought to be within the type of POS withdrawals solely of no more than 10K per particular person. Any withdrawal of greater than 10K per particular person shouldn’t be paid with the brand new notes.

• Brokers are additionally permitted to cost cashout charges for the money swap transactions however are prohibited from charging any additional commissions to prospects for this service.

• You’re to gather BVN, NIN or voters card particulars from prospects paid with new notes for weekly submission to CBN

The CBN will proceed to observe the implementation of the programme and supply additional steering as could also be essential.