Nigerian Banks Push Customers to Link NIN and BVN Ahead of CBN Deadline
Ikenna ChurchillFebruary 28, 20241 Mins read614 
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.
Read more: Satchet Water To Likely Sell at N100, Producers Say
About The Author
Related Articles
Ghana’s Inflation Slows to 21.2% in April, Fourth Monthly Decline
Ghana’s annual consumer inflation rate eased to 21.2 per cent in April...
Mali’s Government Suspends All Political Parties Indefinitely Over Public Order Concerns
Mali’s government has suspended the activities of all political parties and organisations...
People Protested When Naira Was N180 But When It Is N1,500 They Are Not Protesting, Are They Dead? – Obi
The 2023 Labour Party presidential candidate, Peter Obi, has criticised the current...
Niger Security Service Shuts French Mining Company Orano’s Offices Months After Revoking License
Tensions between Niger and French uranium giant Orano has escalated as the...