In response to the Central Bank of Nigeria’s (CBN) directive on December 1st, 2023, it is imperative for all bank customers to promptly link their National Identification Number (NIN) and Bank Verification Number (BVN) to their accounts. Failure to comply with this directive could result in restrictions on Tier 1 bank accounts. This article will guide you through the seamless process of linking your NIN and BVN to your bank account, ensuring compliance with the CBN’s regulations.
READ ALSO: MTN Nigeria Reports N740 Billion Forex Loss in 2023
To link your National Identification Number (NIN) or Bank Verification Number (BVN) to your bank account, you can follow one of the methods outlined below:
- Link BVN/NIN to Bank Account via SMS:
- Text BVN/NIN, your account number, and your BVN/NIN number to the designated number or code provided by your service provider or bank.
- Link BVN/NIN to Bank Account via Internet Banking:
- Log in to your bank’s internet banking platform.
- Select the BVN/NIN option.
- Click on “New Request.”
- Enter your BVN/NIN and select the bank where your BVN/NIN was issued.
- Answer any secret questions prompted by the system.
- Follow the on-screen instructions to complete the linking process.
- Email Request:
- Send an email request to your account officer, providing your BVN/NIN details and account information.
- Visit Your Bank:
- Visit your nearest bank branch.
- Approach the customer service desk or any designated section for assistance.
- Provide your BVN/NIN details and account information to the bank staff.
- Follow any additional instructions given by the bank staff to complete the linking process.
It is important to note that the Central Bank of Nigeria (CBN) has mandated the linking of BVN/NIN to all Tier-1 bank accounts. Tier-1 accounts are those that can be opened with a valid identity or proof of address. The deadline for this linkage may vary among banks, with some indicating February 29, 2024, as the deadline.
Failure to link your BVN/NIN to your Tier-1 bank account may result in restrictions, including daily transaction limits and maximum account balance restrictions. It is advisable to comply with the CBN directive and complete the linking process before the specified deadline to avoid any inconveniences.
For further clarification or assistance, you can refer to the circular issued by the CBN on December 1st, 2023, titled ‘TIER-1 WALLETS AND ACCOUNTS: MANDATORY USE OF BANK VERIFICATION NUMBER (BVN) OR NATIONAL IDENTIFICATION NUMBER (NIN).’
JOIN NOW
https://t.me/MidasRWA_bot/app?startapp=ref_5672ba1f-2b27-4c00-884d-27c057e065ac
Google News Channel
Follow us on Google News for Latest Headlines
Join Our WhatsApp, Facebook, or Telegram Group For More News, Click This Link Below;
WhatsApp Channel
https://whatsapp.com/channel/0029VaELqhlHVvTXjDnUf80h
WhatsApp Group
https://chat.whatsapp.com/ICf5K97TqHpHYvwK9Znt3S
Facebook Page
https://facebook.com/allmedia24news
Our Twitter Page
https://www.twitter.com/mubcrypto
Telegram Group
https://www.threads.net/@allmedia24news
