Home Business Nigerian Banks Push Customers to Link NIN and BVN Ahead of CBN Deadline
BusinessFinanceNews

Nigerian Banks Push Customers to Link NIN and BVN Ahead of CBN Deadline

782
Nigerian banks

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

Written by
Ikenna Churchill

Culture storyteller

Related Articles

NewsWorld

U.S. Deports Eight Prisoners to South Sudan as Pressure Mounts on West African Nations

The United States has deported a group of convicted foreign nationals to...

Human RightsNews

Nigerians Calls for Minister’s Intervention as UNICAL Sends Over 300 Dental Students Home Over Admission-Scandal

Reactions and calls for intervention has flooded social media as the University...

NewsWorld

Intra-African Flights Remain Among the Most Expensive Globally, Frustrating Travellers and Hindering Trade

Travellers across Africa continue to face soaring ticket prices when flying between...

Bauchi Bridge
NewsPolitics

Nigeria: Bauchi Governor Accuses Tinubu-Led FG of Withholding Support from Opposition States

Governor Bala Mohammed of Bauchi State has criticised the Federal Government of...