BREAKING: CBN To Freeze Bank Accounts Without BVN, NIN [SEE DATE]

The Central Bank of Nigeria (CBN) says it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024. 

This is according to a Friday circular by the apex bank which said a BVN or NIN verification will be “conducted shortly”.

According to the circular signed by the CBN Director of Payments System Management Department, Chibuzo Efobi, and the Director of Financial Policy and Regulation Department Haruna Mustapha, all BVN or NIN attached to accounts/wallets must be electronically revalidated by January 31, 2024.