HomeBreaking NewsBREAKING: First Bank gives condition for acceptance of old N500, N1000 notes

BREAKING: First Bank gives condition for acceptance of old N500, N1000 notes


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The First Bank Nigeria Plc, has given a condition for acceptance of old N500, N1000 notes from customers.

The bank, in a public notice released, said customers must first register with the Central Bank of Nigeria (CBN) portal before the now invalid old notes would be accepted as deposit.

The public notice shared on its Facebook and Twitter pages (now deleted) read : “Dear Valued Customer, this is to inform you that our branches shall receive old notes up to a maximum of N500,000 (Five Hundred Thousand Naira) after registration on the CBN portal.

” Please note that deposits of more than N500,000 (Five Hundred Thousand Naira) should be taken to the nearest CBN location.

” In addition, our branches will be open tomorrow, Saturday 18 February 2023 to recieve old notes.”

Recall that the CBN had directed commercial banks to receive from customers the old N500 and N1,000 notes, with the maximum pegged at N500,000.

The apex bank said any amount above N500,000 should be taken to any of CBN’s branches across the country for deposit.


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