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.

More details soon…

Source: https://punchng.com/BREAKING-CBN-freezes-accounts-without-BVN-NIN-April-2024

You can't open a bank account without BVN in the first place . Banks stopped doing that years ago .So which non existence bank account is CBN trying to freeze?

Are people still operating bank system without BVN? I'm not surprised any more

Very good move

frustratedlife:
Are people still operating bank system without BVN? I'm not surprised any more

opay n the likes

BREAKING-CBN-freezes-accounts-without-BVN-NIN-NID-April-2024.

The Central Bank of Nigeria has directed a “Post no Debit” restriction on all bank accounts without Bank Verification Number, NATIONAL Identification CARD NUMBER AND National Identification Number effective APRIL 2024.

NATIONAL IDENTITY NUMBER OF OBASANJO, YARADUA AND JONATHAN'S IS LEGAL TOO.