CBN Moves to Freeze Accounts Without BVN, NIN From April 2024

Date: 01-12-2023 5:58 pm (3 months ago) | Author: kacy lee
- at 1-12-2023 05:58 PM (3 months ago)
(f)

The Central Bank of Nigeria has directed a “Post no Debit” restriction on all bank accounts without Bank Verification Number and National Identification Number effective April 2024.

“Post No Debit” is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from their accounts.

This measure effectively freezes the funds in the account, rendering it inaccessible for the duration of the restriction.

The CBN’s directive was contained in a circular issued by the apex bank and sent to all deposit money banks on Friday.

The Central Bank 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.

The circular was jointly signed by the Director, Payments System Management Department, Chibuzo Efobi, and Director, Financial Policy and Regulation Department, Haruna Mustapha.


Posted: at 1-12-2023 05:58 PM (3 months ago) | Addicted Hero
- gogoman at 1-12-2023 07:32 PM (3 months ago)
Online (m)
stupid people another bullshit coming next year  Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 1-12-2023 07:32 PM (3 months ago) | Grande Master
Reply
- kp45 at 1-12-2023 08:08 PM (3 months ago)
(m)
You'll foolish. What else are you guys gonna bring again?
Posted: at 1-12-2023 08:08 PM (3 months ago) | Addicted Hero
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- vicky987 at 1-12-2023 10:26 PM (3 months ago)
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There's no difference between Tinubu and BUBU so far.
Posted: at 1-12-2023 10:26 PM (3 months ago) | Upcoming
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