BREAKING: CBN Announces Freeze On Unverified Accounts From April 2024

EKO HOT BLOG reports that the Central Bank of Nigeria (CBN), on Friday, announced that it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024.
This online media platform gathered that the apex bank directed a “Post no Debit” restriction on all affected bank accounts.

EDITOR’S PICKS

• FG Takes Action to Tackle Soaring Cooking Gas Prices

• Tinubu Is God’s Ordained President For Nigeria – Oba Of Benin

• Supporters of Kano Governor Stage Peaceful Protest In Ibadan

“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.

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

FURTHER READING  

• Kidnapped Traders Rescued In Benue

• Peter Obi Clinches Best Politician Of The Year At GAMA Awards 2023

• BREAKING: US Embassy In Sierra Leone Denounces Foiled Coup Attempt

The circular was jointly signed by the Director, Payments System Management Department, Chibuzo Efobi, and the Director of the Financial Policy and Regulation Department, Haruna Mustapha.
Click to watch our video of the week

---

Advertise or Publish a Story on EkoHot Blog:

Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.

Citizen journalists will receive a token as data incentive.

Call or Whatsapp: 0803 561 7233, 0703 414 5611