The central bank has announced that all bank accounts without BVN and NIN will be placed on “Post no Debit” effective April 2024.

This was contained in a circular issued by the central bank and sent to all deposit money banks.

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

In the circular, 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.