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URGENT: Bank Accounts Set to Freeze – Nigerians, Take Note!

Eriki Joan UgunushebyEriki Joan Ugunushe
December 1, 2023
in News
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URGENT: Bank Accounts Set to Freeze – Nigerians, Take Note!
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Heads up! If you haven’t sorted out your Bank Verification Number (BVN) or National Identification Number (NIN), brace yourself! The Central Bank of Nigeria is gearing up to hit the ‘freeze’ button on accounts that lack these crucial details, effective April 2024.

What’s ‘Post No Debit’? It’s like a bank putting a temporary lock on your account, making it a no-go zone for withdrawals, transfers, or any other transactions. Your funds? They’re on lockdown until this BVN/NIN situation gets sorted.

Bank Accounts Set to Freeze
CBN Set to Freeze Bank Accounts

The CBN’s no-nonsense move was dropped in a circular sent out to all banks recently. It’s serious business – they’re making sure everyone’s BVN or NIN is in order by January 31, 2024. The big shots at the CBN, Chibuzo Efobi and Haruna Mustapha, put their names on the memo to drive home the point.

In simple terms: if your account doesn’t have BVN/NIN by the deadline, it’s in danger of being frozen. Don’t let your cash turn into an ice cube in this tough economic climate – get those digits in place, pronto!

Tags: Bank AccountsBank verification numbercbnfederal characterNewsninTake Note!URGENT: Bank Accounts Set to Freeze - Nigerians
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

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