Bank accounts without BVN & NIN to be frozen by CBN in April, 2024
The Central Bank of Nigeria has announced that bank accounts without the Bank Verification Number (BVN) and the National Identification Number (NIN) will be frozen by April, 2024.
The apex bank said that all bank accounts must be linked to the BVN and NIN. Several other agencies have requested Nigerians to link their NIN, a policy aimed at monitoring transactions and other activities.
Central Bank of Nigeria released a circular on Friday which said that BVN and NIN that have been attached to accounts or wallets must be electronically revalidated latest 31 January, 2024.
The CBN Director of Payments System Management Department Chibuzo Efobi, and the Director of Financial Policy and Regulation Department Haruna Mustapha signed the circular.
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