One of the requirements for depositing old notes is generating a CBN reference number, which can be done online via the CBN portal.

Understanding the CBN reference number

Before delving into the process of generating a CBN reference number on your phone for an old naira deposit, it’s important to understand what a CBN reference number is and why it’s required.

The Central Bank of Nigeria (CBN) reference number is a unique code generated by the CBN to track and identify transactions carried out by individuals and businesses. This code serves as a reference for all parties involved in a transaction and is used to facilitate the processing and reconciliation of transactions.

It is an essential requirement for anyone who wishes to deposit old naira notes and receive the equivalent value in their bank account.

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To generate the number for depositing old naira notes, there are specific requirements that individuals must meet. These include:

• An active Deposit Money Bank account: The account must be active, and individuals must have access to it.
• Bank Verification Number (BVN): The BVN is a unique identification number that every account holder in Nigeria must have. It is a requirement for generating the CBN reference number.
• A valid Federal government-issued identity card: The identity card can be a National Identity Number (NIN), Driver’s License, Voters Card, or International Passport. The card must be valid and not expired.
• Completed online application form.

By meeting these requirements, individuals can easily generate a reference number and proceed to deposit their old naira notes at the designated cash deposit window.

How to generate the CBN reference number on your phone

Generating this number on your phone is a simple and straightforward process that requires following a few steps.

Here is a step-by-step guide on how to generate the CBN reference number on your phone:

• Open your preferred browser on your phone and navigate to the CBN cash deposit website. The website address is https://crs.cbn.gov.ng/.
• Click on the “Get Started” button, on the homepage,
• Click on “New Depositor.” CBN reference number
• On the next page, you will be required to enter your personal details. This includes your full name, phone number, email address, and BVN.
•  Click on the “Generate Reference No.” button.
• You will be redirected to a page where you can view and print your reference number. You will also receive an SMS and email containing your reference number.
• Note down your reference number and proceed to your bank with your old Naira notes and other required documents.
• By following these steps, you can generate a CBN reference number on your phone, which you will need to deposit your old Naira notes.

It is important to note that this number is only valid for 24 hours. Therefore, it is advisable to generate the reference number on the same day you plan to deposit your old Naira

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