CBN to freeze accounts without NIN, BVN effective April 2024

Author

Innovation Village
December 04, 2023

TODAY’S MENU

  • CBN to freeze accounts without NIN, BVN effective April 2024

  • Unveiling StoreSmart: A Game-Changing Solution for Business Efficiency – An Exclusive Interview with Simeon Ononobi, Co-founder, Connected Analytics

  • 100 days of the Dr ‘Bosun Tijani, Minister of Communications, Innovation and Digital Economy in office

REGULATION

CBN to freeze accounts without NIN, BVN effective April 2024

The Central Bank of Nigeria (CBN) has issued a directive imposing a “Post No Debit” restriction on all bank accounts without a Bank Verification Number (BVN) and National Identification Number (NIN) effective April 2024.

The term “Post No Debit” refers to a restriction placed by banks on specific accounts, preventing account holders from making withdrawals, transfers, or any other debits during the duration of the restriction. This directive effectively freezes the funds in the affected accounts, making them inaccessible until the necessary verifications are completed.

The CBN’s directive, communicated through a circular issued to all deposit money banks, also emphasizes the need for electronic revalidation of all BVN or NIN attached to and/or associated with accounts and wallets by January 31, 2024.....…….read more

PRODUCTS

Unveiling StoreSmart: A Game-Changing Solution for Business Efficiency – An Exclusive Interview with Simeon Ononobi, Co-founder, Connected Analytics

An interview with Simeon Ononobi

Innovation Village had an interview with Simeon Ononobi, Co-founder and Chief Product Officer at Connected Analytics where we delved into the revolutionary potential of StoreSmart and its transformative impact on businesses across Africa. Check out the interview and the video

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SOCIAL MEDIA

100 days of the Dr ‘Bosun Tijani, Minister of Communications, Innovation and Digital Economy in office

Dr ‘Bosun Tijani, Minister of Communications, Innovation and Digital Economy

Over the weekend, Dr ‘Bosun Tijani shared a summary of his first 100 days in office as the Minister of Coomunications, Innovation and Digital Economy.. The 6-page document outlined his initiatives and accomplishments, ranging from the Three Million Technical Talent (3MTT) programme to the to launch of the Startup Support and Engagement Portal….read more

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Rowland Osahon
Innovation Village