The Central Bank of Nigeria (CBN) says accounts without a bank verification number (BVN) or national identification number (NIN) will be restricted from April 2024.
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In a circular on Friday, CBN said a “Post No Debit or Credit” will be placed on funded accounts without BVN or NIN on March 1, 2024.
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.
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