Nigerian banks are urging customers to link their National Identification Number (NIN) and Bank Verification Number (BVN) ahead of the March deadline set by the Central Bank of Nigeria (CBN). While some customers have already linked their BVN but not their NIN, the directive required it for tier two and three accounts.
Bank officials emphasise compliance to avoid potential account blocks, especially for customers with discrepancies in their details. Despite receiving messages, many customers express frustration at the perceived repetition of the process and the requirement to visit bank branches for linkage. The CBN’s directive, issued in December 2023, mandated BVN or NIN attachment to all accounts, with non-compliant accounts facing restrictions from April 2024.
Tier one accounts must have BVN or NIN, while tiers two and three require both. Compliance with the January 31, 2024, revalidation deadline is crucial, as non-compliant accounts will be restricted from transactions starting March 1, 2024.
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