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NIN headache: Banks may scrap 70m bank accounts
Over 70 million bank customers are at risk of losing access to their accounts when the Central Bank of Nigeria’s directive on restricting accounts without Bank Verification Numbers and National Identification Numbers goes into effect.
The CBN had on December 1, 2023, in a circular directed that a ‘Post no Debit’ restriction be placed on all bank accounts without the BVN and NIN from Friday, March 1, 2024.
‘Post No Debit’ is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from such accounts. This measure effectively freezes the funds in the account, rendering them inaccessible for the duration of the restriction.
The circular, jointly signed by the Director, Payments System Management Department, Chibuzo Efobi; and Director, Financial Policy and Regulation Department, Haruna Mustapha, read, “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 & 3 accounts and wallets for individual accounts to have BVN and NIN.
“For all existing Tier-1 accounts/wallets without BVN or NIN: Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied. Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted. The BVN or NIN attached to and/or associated with all accounts/wallets must be electronically revalidated by January 31, 2024.”
The circular went on to warn banks in the country that a “comprehensive BVN and NIN audit shall be conducted shortly and where breaches are identified, appropriate sanctions shall be applied.”
As the deadline approached, some banks sent out messages to their customers to regularise their accounts in line with the new CBN directive. While some asked customers to visit their physical branches, others made provisions for customers to update their accounts online.
FirstBank Nigeria in an email to customers said, “Please ensure that your Bank Verification Number and National Identification Number are linked to your account number on or before February 29, 2024.
“You can seamlessly update your account information with your BVN and NIN by visiting any FirstBank branch close to you. Please note that the Central Bank of Nigeria through its circular: PSM/DIR/PUB/CIR/001/053 dated December 1, 2023, has directed that effective March 1, 2024, all funded accounts without BVN shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted.”
Ecobank Nigeria wrote, “Please be informed that the Central Bank of Nigeria through its circular dated December 1, 2023, has announced that all accounts without Bank Verification Number and/or the National Identity Number would not be able to carry out transactions from March 1, 2024.
“Consequently, you will be required to update your account information with your National Identification Number and Bank Verification Number if you have not done so already.” It, however, offered an online solution.
Fintech firm, OPay, also called on its customers to complete the regularisation of their accounts by linking their BVN or their NIN as mandated by the apex bank, offering them both online and offline options.
A Tier-1 account refers to a bank account that can be opened with minimal or no form of documentation. Such an account can be opened with a passport photograph and has a limit of N50,000 deposit and an operating balance of N200,000 and is mostly not linked to the BVN and is targeted at the unbanked population.
This space is dominated by fintech firms and there are concerns that the lax Know Your Customer requirements are loopholes that are being used to perpetuate fraud.
The National President of the Association of Mobile Money and Bank Agents in Nigeria, Sarafadeen Fasasi, who called for an extension of the deadline, said while the policy was a good move to improve banks’ KYC requirements, its implementation was worrisome.
He said, “We are all aware that it is a good policy for the system for us to have good KYC, but unfortunately, what we have a challenge with is the implementation. This is another wrong implementation. Before you give a deadline, you must have provided the access points. As of today, we have about 104 million NINs out of 200 million people expected to have NINs. So, there is a gap of about 100 million.
“It is the same thing with the BVN, which as of the last report was about 59.9 million out of 134 million expected bank accounts. That means we have over 70 million accounts, which will be affected.”
According to data from Statista, as of 2021, the number of active bank accounts in the country was around 133.5 million, with savings accounts making up about 120 million.
Fasasi claimed that the National Identity Management Commission lacked the capacity to deliver 100 million NINs within the required timeframe.
He said, “The question is, can the NIMC deliver the gap of about 100 million NINs within the deadline? The answer is no, so why should this drive Nigerians into another problem? For BVNs, we have a huge gap to deliver and only bank branches can enrol BVN as of today.
“Based on our research, about 300 local government areas out of the 774 LGAs in Nigeria have no bank branches; so, who are those who are going to provide BVN enrolment at those LGAs? It means that people are going to run into trouble.
“Also, the highest that the banks have done is 500,000 enrolment per month. We are not ready for this. Why the rush? Why not plan that every month, this is what we want to achieve based on our capacity and access points?”
He lamented that this was coming at the same time as the National Communications Commission had directed telecom companies to bar mobile lines without the NIN.
“Who is pursuing us in Nigeria in this critical period where everyone is groaning under adverse economic conditions? They want to add extra trauma; I think we need to reconsider this,” he concluded.
The Chairman, Consumer Rights Awareness, Advancement and Advocacy Initiative, Moses Igbrude, said the apex bank ought to assess the level of compliance before wielding the big stick.
He said, “You must check the challenges and the parties who are responsible for the NIN and BVN. What of Nigerians in the Diaspora? They should give more time for this linkage so that they will not disrupt the banking system.
“It is a multifaceted issue involving many players. What is the infrastructure required for them to work? Otherwise, they will use a legal way to disenfranchise a lot of people.”
The President, Bank Customers Association of Nigeria, Dr Uju Ogubunka, called for an extension of the deadline to enable more bank customers regularise their accounts in line with the CBN directive.
Ogubunka told the pres “We know that some of our members have linked their accounts with the BVN/NIN as directed by the CBN. At this point, I think it will be wise to give an extension, because the telecom network has been a bit inclement and, then of course, you talk about power; some of us were unable to charge our phones for some time because there was no power. And these things are happening almost everywhere.
“People are willing to do what they’re supposed to do, but conditions within the environment are a bit difficult. So, I will personally suggest that we consider what is happening and give some extension.”
He went on to suggest that a test run where restrictions would be placed on some affected accounts might be of help in sensitising people to the importance of the directive.
“Another thing that they can do is maybe do a test run so that people will know that it is something that can be done. Some people may not even believe that it is possible to restrict transactions. So, if you do a test run for one day or even a few hours, you announce that those who have not linked up will be unable to access their accounts temporarily, maybe for 24 hours or 12 hours, then give an extension. That should help,” Ogubunka added.
He stated that there had been no reports that banks had started to restrict bank accounts without the BVN and NIN.
“No one has reported that to us yet. But then, they may not know until they want to make use of the accounts. It is not as if they are using the bank accounts every minute of the day. It is only when they want to make use of it and then see that they can’t get through, that is when they have an issue. So far, we don’t have any report on that,” he said.
Multiple bankers, who spoke with journalists on condition of anonymity, said the banks had not yet started to restrict accounts without the BVN and NIN.
They said directives had been issued from their headquarters to create a seamless linking process to avoid account deactivation.
A bank official said, “No one is deactivating accounts yet. They have been sending emails to customers to calm down so that a more seamless linking process will be communicated to customers. They will be reached via text and email. Some people used the NIN to open or update their accounts already so they won’t need to do it again.”
On the number of possible affected customers, the official stated, “We haven’t got the affected number yet. It has to be spooled by our IT team from the backend.”
Another official confirmed the directive to assist more customers via email.
“The deadline still stands; however, not all accounts are blocked because some opened theirs with the national ID from the inception. But we will be reaching out via email and text,” the official wrote to one of our correspondents.
A News Agency of Nigeria report on Friday revealed that customers continued to besiege various bank branches in Lagos to meet the CBN deadline for linking BVN and NIN to their accounts.
The customers also asked the CBN to extend the deadline for them to link their BVNs and NIN with their accounts.
With the implementation of the directive, there was a significant gathering of customers at various banks as early as 8am on Friday to link their NINs with their bank accounts.
A security officer at a Guaranty Trust Bank branch in the Abule Egba area, while addressing customers who were eager to gain entry into the banking hall, said the message sent out by the bank to its customers concerning the directive was a random one.
He said not all customers that got the message were affected by the directive. This got the customers infuriated, as they said the bank should have sent out messages to only those affected. At another GTB branch in Egbeda, the bank advised customers to register online using specified codes displayed on the walls outside the banking hall.
However, at Polaris Bank, the crowd was not allowed to converge, and those who went into the banking hall were told by the customer service desk to produce their NIN slips.
Those without the slips were turned back. Customers who explained their mission to the bank’s security officers before entering the banking hall were told to get the slips.
Two bank employees used mini computers to do the first registration at the entrance before the security guards allowed the customers into the banking hall.
At Providus Bank on Nnamdi Azikiwe Road, customers were given forms and were assisted with registration simultaneously. The situation was similar at Wema Bank on Broad Street and other banks visited on Lagos Island.
Meanwhile, calls and text messages sent to the CBN spokesperson, Hakama Sidi, yielded no response as of the time of filing this report.
——As The Lawmaker offers Bursary to 84 Outstanding Students, Certificates In ICT To 1000 Others
The four-day grand finale of the Free training on information and computer technology, ( ICT) Programme sponsored by the Member Representing Enugu East/Isi-Uzo Federal Constituency, Hon. Prof. Paul Sunday Nnamchi, came to a successful conclusion on Sunday, 20th September, 2026 at St. Therese Parish, Phase Six, Trans-Ekulu, Enugu.
The programme, designed to equip young people with essential digital skills and improve their capacity to thrive in today’s technology-driven world, featured Bursary Awards to 84 outstanding students and presentation of certificates to over 1,000 students and youths drawn from communities across the constituency.
Highpoint of the colourful event was the presentation of a special “Award of Excellence” to Hon. Prof. Paul Sunday Nnamchi in recognition of his commitment to youth development, education and community empowerment by the St. Therese Parish, of Catholic Church, Phase Six, Trans-Ekulu, Enugu.
Presenting the award on behalf of the parish, Very Rev. Fr. Franklin Udeze expressed profound appreciation to Prof. Nnamchi for his numerous contributions to human capital development and what he described as his outstanding performance in the National Assembly. He prayed that God would continue to bless, guide and strengthen him in his service to the people.
In his response, Hon. Prof. Nnamchi appreciated the parishioners, youths and students for the honour and recognition, noting that God’s grace and their prayers had been his strength.
He stated further that, “one of his primary objectives in the National Assembly is to ensure that students across Enugu East/Isi-Uzo Federal Constituency acquire computer literacy and essential digital skills”.
Prof Nnamchi also emphasized that the world had become increasingly technology-driven and that young people must be adequately prepared to participate meaningfully in the global community.
Earlier, the Programme Coordinator, *Engr. Igwe Daniel Nwachukwu, praised the parents and guardians for entrusting their children and wards to the programme and for supporting their participation throughout the excise.
He encouraged the beneficiaries to make meaningful use of the knowledge and skills acquired, stressing that the true value of the programme would be demonstrated through their ability to apply what they have learned to improve their lives, create opportunities and contribute positively to society.
Delivering the Vote of Thanks on behalf of the beneficiaries, Miss Avian Chimeziterem expressed sincere appreciation to Hon. Prof. Nnamchi for remembering young people and providing them with such a valuable and impactful opportunity.
She thanked the lawmaker and resource persons for investing in their future and assured that they would make good use of the skills acquired during the one month intensive computer training programme.
The successful completion of the 4th edition, which trained 2,927 students marks another significant milestone in the lawmaker’s drive to promote digital literacy, youth empowerment and educational development in Enugu East/Isi-Uzo Federal Constituency.
By Gloria Ikibah
Ghana has called for stronger regional cooperation among ECOWAS member states to tackle the growing links between climate change, environmental degradation, population displacement and insecurity across West Africa.
The call was made on Tuesday by Ghana’s Vice-President, Professor Naana Jane Opoku-Agyemang, who represented President John Dramani Mahama at the official opening of the Second 2026 Parliamentary Seminar and Second Extraordinary Session of the ECOWAS Parliament in Accra.
The seminar, being held under the theme, “Climate Change as a Driver of Environmental Degradation, Population Displacement and Rising Insecurity in the ECOWAS Region,” is examining the growing impact of climate-related pressures on communities, livelihoods and regional security.
Opoku-Agyemang said the interconnected nature of the challenges required ECOWAS countries to move beyond isolated national responses and develop coordinated measures capable of addressing both the immediate consequences and underlying causes.
She said: “We need stronger early warnings, better support for host communities, more resilient livelihoods and better coordination across our borders, acting before local pressures become wider humanitarian crises”.
The Vice-President said climate change should no longer be treated solely as an environmental matter, arguing that its consequences were increasingly being felt in development, humanitarian and security sectors.
She cited population displacement across the Sahel and neighbouring coastal states, noting that insecurity, environmental stress and disrupted livelihoods in one part of West Africa could increasingly place pressure on communities and national systems elsewhere.
According to her, Ghana was working with ECOWAS to strengthen early-warning mechanisms through improved data sharing, closer coordination and stronger links between national and regional response systems.
Opoku-Agyemang also called for greater efforts to mobilise climate finance and invest in resilient agriculture, water management, coastal protection and clean energy.
According to her, ECOWAS already had important frameworks covering free movement, disaster risk reduction, climate action and early warning, but the priority should now be to ensure that the frameworks were fully implemented and adequately funded.
The Speaker of the ECOWAS Parliament, Hadja Mémounatou Ibrahima, also called for climate commitments to be translated into practical measures through legislation, budgets and effective oversight.
“Our role is to ensure that public policy and budgets devoted to climate resilience … contain also the humanitarian dimensions, economic, social, migratory, and security concerns,” she said.
Ibrahima said recent flooding along parts of the region’s coastline had demonstrated how closely climate, humanitarian and security challenges were connected.
She therefore urged parliamentarians to use the seminar to develop practical recommendations capable of protecting vulnerable communities and preventing environmental pressures from escalating into conflict.
The Ghanaian Parliament called on ECOWAS member states to strengthen legislation on environmental governance, climate adaptation, disaster preparedness and sustainable management of natural resources.
It also urged governments to improve protection for displaced persons, refugees and host communities, while creating opportunities for young people and women through climate-smart agriculture, renewable energy and entrepreneurship.
The Second Deputy Speaker of the Ghanaian Parliament, Hon. Andrew Asiamah, who represented the Speaker, emphasised that no ECOWAS member state can address the challenges alone.
He noted that rivers, ecosystems and environmental crimes did not respect national borders, making regional cooperation essential to tackling the problems.
Hon. Asiamah also warned that effective regional responses would require adequate financing, saying policies without the resources to implement them would remain largely aspirational.
The Head of the Ghanaian Delegation to the ECOWAS Parliament, Kweku Ricketts-Hagan, said the regional Parliament had an important role to play in finding solutions to climate change and insecurity because lawmakers were closer to the people.
He called for a coordinated and holistic approach to the challenges confronting the region.
The Second Extraordinary Session of the ECOWAS Parliament will also consider the institution’s 2027 budget and activity programme.
The parliamentary seminar forms part of ongoing regional efforts to examine the relationship between climate change, environmental degradation, population displacement and growing insecurity in West Africa.
By Gloria Ikibah
The Economic Community of West African States (ECOWAS) has called for a new regional compact to tackle climate change, environmental degradation, population displacement and insecurity, warning that the region can no longer treat climate change as an environmental concern alone.
The call was made on Tuesday by the President of the ECOWAS Commission, General Birame Diop, represented by the Commissioner for Human Development and Social Affairs, Professor Nassirou Bako-Arifari, at the Second 2026 Joint Parliamentary Seminar in Accra, Ghana.
The seminar, which runs from September 21 to 23, is focused on “Climate Change as a Driver of Environmental Degradation, Population Displacement and Rising Insecurity in the ECOWAS Region.”
Prof. Bako-Arifari said the consequences of climate change were already placing growing pressure on communities, livelihoods and regional stability, making coordinated action by governments and parliaments increasingly necessary.
He said: “The theme before us is not simply an environmental issue. It is a development issue, a humanitarian issue, a peace and security issue, and ultimately an issue of human survival and regional stability confronting ECOWAS member states. West Africa is among the regions of the world particularly vulnerable to the consequences of climate change. Rising temperatures, changing rainfall patterns, prolonged droughts, desertification, coastal erosion, floods and the degradation of forests and farmlands are placing unprecedented pressure on communities and livelihoods.”
Naijablitznews.com reports that the World Bank has projected that West African countries could see as many as 32 million people moving within their own countries by 2050 because of climate factors if concrete climate and development action is not taken.
Bako-Arifari said ECOWAS had begun work to address the financing challenge facing climate action, including efforts to establish a regional carbon market platform under Article 6 of the Paris Agreement.
“Honourable Parliamentarians, Since 2024, the ECOWAS Commission has initiated an ambitious process aimed at establishing a regional carbon market platform in accordance with Article 6 of the Paris Agreement, a mechanism intended to mobilise necessary investments to address climate financing needs estimated at $294 bn for the region.
“Against this background, this Seminar is organised to provide a veritable platform for dialogue, knowledge-sharing, inter-institutional consultations to come up with concrete recommendations to strengthen climate resilience, human security and sustainable development in the ECOWAS Region”, he noted.
According to ECOWAS the region’s climate financing needs are estimated at $294 billion, while its regional carbon market initiative is being developed as one avenue for mobilising additional resources.
The ECOWAS commissioner placed particular emphasis on the role of parliamentarians, saying lawmakers had the power to translate regional commitments into national policies and practical action.
“This brings us to the critical role of Parliamentarians. Parliaments are uniquely positioned to translate regional commitments into national action. You provide the legislative frameworks, approve national budgets, exercise oversight and, importantly, serve as a direct bridge between governments and citizens”, he said.
Bako-Arifari proposed stronger climate-responsive legislation and oversight, increased domestic and regional financing, better early-warning systems and more inclusive management of natural resources.
“First, strengthen climate-responsive legislation and oversight. Our laws and policies must adequately address environmental protection, climate adaptation, disaster risk reduction and sustainable management of natural resources.
“Second, prioritise climate financing. Climate resilience cannot be achieved through declarations alone. We need predictable domestic and regional resources, while also mobilising international climate finance and strengthening access to available funding mechanisms.
“Third, strengthen early warning and early action. We must move from reacting to climate-related disasters to anticipating and preventing them. Regional early warning systems should be linked to communitylevel preparedness and rapid response mechanisms.
“Fourth, promote inclusive management of natural resources. Land, water, forests and fisheries must be managed transparently and sustainably. Local communities, women, young people, traditional authorities and other stakeholders must have a meaningful role in decision-making.
“Fifth, place youth and women at the centre of climate resilience. They are not merely victims of climate change. They are innovators, entrepreneurs, community leaders and agents of resilience. Investing in their skills, enterprises and participation is therefore an investment in the future stability of our region.”
Bako-Arifari said ECOWAS must also strengthen cooperation among member states on climate adaptation, disaster management, food and water security, environmental protection and the management of resources shared across borders.
He therefore called for closer collaboration between governments, parliaments, civil society organisations, traditional authorities, the private sector, academia and development partners.
On the broader security implications, he said ECOWAS needed to adopt a wider understanding of security which went beyond the protection of borders and prevention of armed conflict.
But cautioned against waiting for environmental pressures to develop into humanitarian or security crises.
“The scale and complexity of this challenge require us to move from fragmented responses to a comprehensive regional climate-resilience and human-security agenda. We need a new understanding of security—one that recognises that security is not only about protecting borders and preventing armed conflict. It is also about ensuring that citizens have access to food, water, livelihoods, a safe environment and opportunities for a dignified life.
“We must therefore be proactive and invest in resilience before crises occur. We must protect our ecosystems before they become irreversibly degraded. We must create livelihoods before desperation drives communities into displacement. Last but not the least, we must address grievances before they become conflict”, he added.
The commissioner urged parliamentarians to ensure that the seminar produced practical outcomes rather than becoming another forum for discussing the region’s climate challenges.
“Let us build an ECOWAS region embedded in in which climate resilience is development planning; where displacement is managed with dignity; where natural resources become instruments of cooperation rather than sources of conflict; and where our young people see a future of opportunity rather than one defined by environmental vulnerability and insecurity.
“Let our efforts continue to advance peace, security, resilience and sustainable development in the ECOWAS Region as ECOWAS transitions from ECOWAS of States to ECOWAS of People and Prosperity for All”, he stated.
Prof Nnamchi Bags Excellence Award From Catholic Parish For His Investment In Youths(Photos)
Ghana Urges ECOWAS States to Unite Against Climate-driven Insecurity
ECOWAS Seeks New Regional Pact as Climate Crisis Threatens Security
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