Nigerian banks are currently pushing their customers to come and link their National Identification Number (NIN) and Bank Verification Number (BVN) as the March deadline fixed by the Central Bank of Nigeria (CBN) approaches.
While many of the customers who received messages from their banks have been complaining that the exercise is a repetition as they had linked all the details before now, Nairametrics gathered that many may have linked their BVN but not the NIN as required by the new directive.
For tier 2 and 3 accounts and wallets, the CBN’s directive said they must be linked with both BVN and NIN, while only tier 1 accounts have the option of BVN and/or NIN.
According to bank sources, some customers who had linked their BVN have also been discovered to have irregularities in their details and they would be required to perfect their records with the banks to avoid being blocked.
Why banks are sending messages
Some bank officials who spoke with Nairametrics under the condition of anonymity said they were only sending messages to tier 2 and 3 customers, who have not linked the two numbers to their accounts.
- “This is a directive from the Central Bank, and we have to ensure that our customers are well informed and that is why we are sending messages to those that have not fulfilled these requirements.
- “In most cases, you have customers with tier 2 and tier 3 accounts, who have only linked their BVN and not NIN. But the directive is that they must be linked and that is why those who have linked their BVN will still get the same message for BVN and NIN. But what they will need to do is to just link their NIN,” one of the sources said.
- “In some cases, you found out that the information in the BVN submitted by the customers and that of their NIN do not tally. This set of customers will need to redo the exercise to regularize their details,” another official added.
Recommended reading: NIN/BVN for Tier-1 accounts, imperative to combat fraudulent activities
Customers lament
Meanwhile, bank customers in Nigeria have been lamenting as they receive messages from their banks asking them to link their NIN and BVN. Many of the customers said this exercise has been done and wondered why the banks are asking them to repeat the same.
To worsen the case, the customers are required to visit their nearest bank branch to do the linkage. Many of the customers who believed they had done the linking in the past expressed worry that they would have to go through the rigors of queueing at the bank again.
The CBN’s directive
The CBN on December 1, 2023, announced that all bank accounts without Bank Verification Number (BVN) and National Identification Number (NIN) will be placed on “Post no Debit” effective April 2024.
The new directive was contained in a circular issued by the central bank and sent to all deposit money banks. The central bank also stated that all the BVN or NIN attached to and associated with all accounts/wallets must be electronically revalidated by 31 January 2024.
- “It is mandatory for all Tier-1 bank accounts and wallets for individuals to have BVN and/or NIN.
- It remains mandatory for Tiers 2 and 3 accounts and wallets for individual accounts to have BVN and NIN,” the apex bank stated.
It added that beginning from 1 March 2024, any such accounts or wallets that are funded will carry the “Post no Debit or Credit” tag and be forbidden from all transactions.
The challenge is the banks are sending this notification, 3 days before the deadline, and almost 3 months after the directive from CBN. Is this not witchcraft?
I would have preferred to be a tree in outside country than to be in Nigeria….
Upon all the sufferings we the Nigerians r passing through…….. they want to b stressing people again..🙄🙄🙄🙄🙄🙄🙄
The banks are supposed to create a portal for this instead of asking people to visit the branch. I have BVN on my account and it is confirmed okay by my bank GT. But still want me to link my NIN. I linked my NIN to my other account on another bank with ease.
Gtb should give preference to customers who already have a BVN on their account.
The banks are supposed to create a portal for this instead of asking people to visit the branch. I have BVN on my account and it is confirmed okay by my bank GT. But still want me to link my NIN. I linked my NIN to my other account on another bank with ease.
Gtb should give preference to customers who already have a BVN on their account. They notice is just too short. 3 days to close of the demand.
It is very unfair for the banks to be sending such information 3 days prior to deadline, this is creating inconveniences to both customers and staff.
I’m seeing this as a sabotage of the purpose of the exercise by the bank. Why wait till 3 days to deadline before informing your customers. Definitely they won’t meet up and CBN blocks the accounts and the public outcry begins and the policy is delayed or reversed
My former landlord kept his money in bamboo sticks buried in his land. Banks interest on saved money are simply non existent. Why bother? Bamboo sticks are not so bad.
This is unfair.. not fair
I wonder what this country stand to gain from mercilessly dealing with her citizens. Nigeria, do you really derive joy for the pain of your citizens? Kai, I think such a critical information ought to have been passed to the public earlier enough than this. What a world
None of the banks am using even informed me about this till date . This people are definitely up to something fishy.
Now, I really understand why all this things are happening to this great country Nigeria. The banking industry is dead the Judiciary is dead the Executive is dead everything abt this country is gradually dieing. I think this Country has expired.
What they are not telling us is… the BVN and NIN projects have failed. And, they are trying to look for ways to fix the failures.
Despite blocking of Sims, kidnappers still make calls. Why?
BVN can’t capture fraudulent bank activities.
This is what happens when you create a system then put a loop hole you can use for yourself. People will find these holes and exploit it. The whole system will become ineffective.
Soon, another government will create a new ID system or call for revalidation of NIN.
Yes it is better to links your BVN and NIN VALIDATION numbers due to avoid incomplete information.
But the bankers workers are not making serious about this links to their customers BVN ,NIN. They don’t want to concentrate on the making this issue and when you go bank for this issue some are saying that they don’t know how to do it.and other say go ask that one , and at end will not get what you want to get, so some customers have different issue to another,and it might be different of age and other different names this is the problem.
CBN is originator of BVN account still operate without BVN, and it could not sanction the banks that allow such. NIMC is another body entirely how would the data relation will be, this government like to stress it citizens, NIN can not stop kidnapping is it banking NIN will work effective duplication of work too sweet us in Nigeria everyone want to shows they are working