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Ahead of CBN deadline, Nigerians with BVN hit 60.2m, up from 58.7m Twenty-one days before the expiration of the Central Bank of Nigeria’s (CBN) deadline for bank customers to have Bank Verification Number, BVN updated to their accounts or risk access to their accounts, registration has risen to 60.2 million, the latest data from the Nigerian Interbank Settlement System, NIBSS has shown. The figure represents an increase of over 1.5m new registrations from 58.7 million BVN registrations as of September 12, 2023. An update on the website of the NIBSS indicated that as of January 10, 2024, BVN registration has hit 60,200,872. The increase in BVN shows that bank customers are up to the task of registering and revalidating their BVN ahead of the CBN’s deadline. It would be recalled that on December 1, 2023, the CBN directed commercial, merchant, non-interest, payment service banks, other financial institutions, and mobile money operators through a circular that the BVN or National Identification Number, NIN, attached to all accounts/wallets must be electronically revalidated by January 31, 2024. The circular said effective March 1, 2024, all funded accounts or wallets without BVN or NIN shall be placed on ‘Post No Debit or Credit’, and no further transactions would be permitted. According to the NIBSS electronic payment factsheet for 2021, the number of bank accounts in the country was 191.4 million, of which 57.9 million were inactive. Also, similar statistics by Enhancing Financial Innovation and Access, EFInA, Access to Financial Services in Nigeria 2023 Survey showed that five per cent (3 million) of banked adults do not have a BVN or NIN.
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Ahead of CBN deadline, Nigerians with BVN hit 60m

  • January 11, 2024
  • Admin

Twenty-one days before the expiration of the Central Bank of Nigeria’s (CBN) deadline for bank

Civil servant, 15 others nabbed for selling a baby for N400k
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Civil servant, 15 others nabbed for selling a baby for N400k

  • January 11, 2024
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Police operatives in Gombe State have arrested a suspected human trafficker, identified as Khadija Shehu-Manzo,

Bank staff reportedly commit suicide over economic hardship
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Bank staff reportedly commit suicide over economic hardship

  • January 11, 2024
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A yet-to-be-identified female bank staff has reportedly ended it all over economic hardship in Ikorodu,

EFCC to reportedly spend nearly N2b on local, international travels and others
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EFCC to reportedly spend nearly N2b on local, international travels and others

  • January 10, 2024
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The EFCC has budgeted N1,055,633,61 billion on local travels. According to the report, analysis of

Gunmen nabbed after breaking into a TV studio during a live broadcast
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Gunmen nabbed after breaking into a TV studio during a live broadcast

  • January 10, 2024
  • Admin

Thirteen masked men who broke onto the set of a public television channel during a

How TB Joshua paid my university scholarship, gave me N8K everyday in 2010 – BBNaija’s Frodd
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How TB Joshua paid my university scholarship, gave me N8K everyday in 2010 – BBNaija’s Frodd

  • January 10, 2024
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Amid allegations against the late prophet, TB Joshua, reality star, Frodd has chipped in his

Japan earthquake death toll hits 200
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Japan earthquake death toll hits 200

  • January 10, 2024
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The death toll from the massive 7.5 magnitude earthquake that struck western Japan and flattened

TB Joshua: FFK reacts to BBC documentary
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TB Joshua: FFK reacts to BBC documentary

  • January 10, 2024
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Following the investigative documentary unveiled by the British Broadcasting Cooperation (BBC) about the alleged atrocities

Footballer Sadio Mane marries his longtime girlfriend
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Footballer Sadio Mane marries his longtime girlfriend

  • January 9, 2024
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Ex-Liverpool striker Sadio Mane has married his longtime girlfriend, Aisha Tamba. The couple tied the

Mr President, salary hike won’t resolve the present hunger
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Tinubu slashes travel convoy expenditure by 60 percent

  • January 9, 2024
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President Bola Tinubu has slashed both international and local travel expenditure of all government officials

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