Tens of millions of Nigerian bank customers are at risk of losing access to their accounts if the Central Bank of Nigeria (CBN) implements its directive on restricting accounts without the Bank Verification Numbers/National Identification Numbers (BNV/NIN) linkage..READ FULL ARTICLE HERE>>>>
On December 1, 2023, the CBN directed that a ‘Post No Debit’ restriction be put on all bank accounts without BVN/NIN linkage effective Friday, March 1, 2024. This means that affected customers will not make withdrawals, transfers, or any other debits from their accounts.
BREAKING: Apostle Johnson Suleman Reveals What Killed Mr Ibu And Herbert Wigwe(Video)
However, the implementation process has been met with concerns and calls for an extension of the deadline. The Association of Telephone, Cable TV and Internet Subscribers of Nigeria (ATCIS-Nigeria) has requested a 90-day extension of the BVN-NIN linkage exercise due to the stress account holders are dealing with just to link their accounts.
The policy’s good intentions are being clouded by the hasty deadline, which does not take into account Nigerians in Diaspora and those in remote areas with poor network connectivity. The banks have opted for both physical and online linkage, with some customers being asked to visit their physical branches, while others can update their accounts online.
JUST IN: Tinubu Heeds Obi’s Advice, Stops Ministers, Other Appointees From Foreign Travels
Daily Trust calls for a phased implementation of the policy to address the issue of poor network in parts of the country and the absence of physical banks in some areas. Nigerians should be able to do this without pressure or stress, and the era of herding people together in banking halls under matching orders should be a thing of the past.
It is time for things to be done in an orderly manner, and the linkage of BVN/NIN should be considered as a routine banking requirement. The deadline should be extended to allow for a smoother and more inclusive process that benefits all Nigerian bank customers..READ FULL ARTICLE HERE>>>>
