By Milcah Tanimu
The latest data from the Nigerian Interbank Settlement System (NIBSS) reveals that 60.2 million Bank Verification Numbers (BVN) have been registered in Nigeria, just 21 days before the Central Bank of Nigeria’s (CBN) deadline for customers to link their BVNs or National Identification Numbers (NINs) to their accounts. This indicates a significant increase of over 1.5 million new registrations since September 12, 2023, when the figure stood at 58.7 million. The CBN’s directive requires all accounts and wallets to be electronically revalidated by January 31, 2024, or face restrictions from March 1, 2024.
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