The Central Bank of Nigeria (CBN) has announced that effective April 2024, it will freeze bank accounts without Bank Verification Number (BVN) or National Identification Number (NIN).
The apex bank disclosed this on Friday through a circular, which also said a BVN or NIN verification will be “conducted shortly”.
It also said all BVN or NIN attached to accounts/wallets must be electronically revalidated by January 31, 2024, according to the circular by the CBN Director of Payments System Management Department Chibuzo Efobi, and the Director of Financial Policy and Regulation Department Haruna Mustapha.
* Details later…