Central bank of Nigeria has lunch the new portal called CBN Currency Redesign – Cash Return Portal for every Nigeria Citizen to return Old naira note.

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Central bank of Nigeria  has  lunch the new portal called CBN Currency Redesign – Cash Return Portal for every Nigeria Citizen to return Old naira note.

Must provide your BVN

Must provide your Account Number

Valid phone number

Application Deadline: 3 Days from the date of publication.

Do you want to return your old Naira note to CBN? If Yes, follow the guideline below.

A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary.

Eight major functions of central bank in an economy are as follows:

(1) Bank of Issue,

(2) Banker, Agent and Advisor to Government,

(3) Custodian of Cash Reserves,

(4) Custodian of Foreign Balances,

(5) Lender of Last Resort,

(6) Clearing House,

(7) Controller of Credit, and.

The Fed has traditionally used three tools to conduct monetary policy: reserve requirements, the discount rate, and open market operations.