December 01, (THEWILL) – The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) and other financial institutions operating in the country, to place a “Post no Debit” on all bank accounts without Bank Verification Number (BVN) and National Identification Number (NIN), effective April 2024.
A circular issued by the central bank and sent to all deposit money banks, also stated that all the BVN or NIN attached to and/or associated with AL accounts/wallets must be electronically revalidated by January 31, 2024.
See circular below:
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