The Central Bank of Nigeria (CBN) has announced plans to freeze all accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) starting from April 2024.

This decision was communicated in a circular issued on Friday, December 1st, 2023.

According to the bank, a BVN or NIN verification will be “conducted shortly”.

The bank also stated that all the BVN or NIN attached to and associated with all accounts/wallets must be electronically revalidated by January 31, 2024.