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NIN linkage: Banks may block 70 million accounts

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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.

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“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.

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“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.

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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.

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“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.

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“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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Nigerian Immigration Operatives Nab 51 Illegal Migrants From Mali In Nyanya, Abuja

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According to the statement, the arrests took place on Monday, March 31, 2025, following credible intelligence.

The Nigeria Immigration Service (NIS) has said that its officers arrested 51 illegal migrants from Mali in New Nyanya, Karu Local Government Area of Nasarawa State.

The NIS made this known in a statement issued on Wednesday by its Public Relations Officer, ACI A.S. Akinlabi.

According to the statement, the arrests took place on Monday, March 31, 2025, following credible intelligence.

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A breakdown of the arrested migrants revealed that 11 were female, while 40 were male, with ages ranging between 16 and 19 years.

Akinlabi stated that preliminary investigations revealed that the arrested illegal migrants may have been victims of Trafficking in Persons (TIP) and Smuggling of Migrants (SOM), as they were found without valid travel documents or residence permits.

“Preliminary investigations conducted by the Service suggest that the migrants may have been victims of Trafficking in Persons (TIP) and Smuggling of Migrants (SOM), as they were found without valid travel documents or residence permits,” Akinlabi stated.

The statement further noted that the detained individuals have been taken into the custody of the Service for further profiling and investigation.

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“The arrested individuals have been taken into the custody of the Service for further profiling and investigation to determine the circumstances of their migration and any potential involvement of trafficking or smuggling networks or syndicates,” Akinlabi added.

Akinlabi further stated that the NIS would determine the circumstances surrounding their migration and uncover any potential involvement of trafficking or smuggling syndicates.

The statement added, “The Nigeria Immigration Service remains committed to ensuring that Nigeria’s borders are protected against illegal migration while upholding the rights of migrants who comply with the country’s immigration laws.

“The Service continues to work closely with relevant authorities and stakeholders to combat smuggling of migrants and counter trafficking in persons effectively.

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“The NIS reassures the general public of its unwavering commitment to National Security and Migration Management while encouraging citizens to report suspicious migration activities to the nearest NIS Commands and Formations.”

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Police Exhume Engineer’s Body From Shallow Grave In Delta Community

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The remains of an engineer, Chigozie Udalu, have been exhumed from a shallow grave in Akwukwu-Igbo, the headquarters of Oshimili North Local Government Area in Delta State.

Recall that the engineer, who was contracted to construct offices in Akwukwu-Igbo, was murdered and buried in a shallow grave.

Though the incident occurred in December 2024, details only emerged recently after two suspects were arrested in connection with the crime.

Assailants Murder Construction Engineer In Delta State Community, Bury In Shallow Grave

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A community source revealed that the suspects, identified as Tiv youths from Benue State, allegedly killed the engineer and concealed his body on a farm.

“Two Tiv boys from Benue State have been arrested in connection with the crime. They buried the engineer’s remains in a shallow grave on a farm,” the source stated.

The Delta State Police Command confirmed the incident, with spokesman Edafe Bright acknowledging that an investigation was ongoing.

“We are aware of the incident, and our men are working to ensure others involved are apprehended,” Bright revealed.

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On Wednesday, the remains of the victim were exhumed by the police and the Delta State government.

A police source revealed that the arrested suspects alleged the engineer owed them money and often verbally abused them.

“They had also intended to steal cement from the site but perceived the engineer as an obstacle. On December 10, 2024, they planned to strike him with a 2×2 plank but assumed he was physically strong and might overpower them.

“On December 11, the Tiv boys put a rope around his neck from behind, causing strangulation. Upon his death, they buried him in a shallow grave on the farm,” the source explained.

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“Following the murder, the suspects reportedly completed their contract at the site and stole the victim’s phone, making several attempts to transfer money via a mobile app.

“Additionally, the landlord of the construction site was accused of being involved in money rituals. In an attempt to clear his name, he was taken to shrines to swear an oath before the victim’s family.

“The landlord recounted his ordeal, stating that he nearly gave up on the case due to the challenges he faced with the State Criminal Investigation Department (SCID) in Asaba.

“However, a police officer suggested he visit Ekpan Divisional Police Officer (DPO), CSP Aliyu Shaba. The officer assured him that within 30 days, the truth would be uncovered.

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“Upon arrival at Ekpan, the landlord briefed the DPO, who assembled his team and employed sophisticated investigative techniques, leading to the arrest of two suspects.

“One of the suspects later confessed to knowing the location where the engineer was buried,” the source said.

A young man was also arrested and transferred to the SCID for openly threatening the victim in the presence of the landlord, further highlighting the brutality of the crime.

Of the four individuals arrested, two are considered principal suspects. Meanwhile, a manhunt is ongoing for the remaining suspects who are still at large.

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S/African Court Acquits Nigerian Pastor Of Rape, 31 Other Charges

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A South African court found a Nigerian televangelist not guilty on 32 charges Wednesday, eight years after he was jailed on accusations of raping and sexually assaulting several young women from his church.

Eastern Cape High Court judge Irma Schoeman said the prosecution had mishandled its case against Tim Omotoso, 66, senior pastor at the Jesus Dominion International (JDI) church based in South Africa.

Omotoso, arrested in 2017, fell to his knees and appeared to pray after the judge found him not guilty of all charges, which included sexual exploitation and human trafficking.

Schoeman said that while the pastor’s explanations appeared improbable, state prosecutors had not proved beyond reasonable doubt their case against him and two assistants who also faced charges.

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“The accused are found not guilty and are discharged on all the charges,” she ruled.

The women who testified against Omotoso said they were handpicked by the pastor, who would pray for forgiveness after each encounter with them.

Some had been part of a gospel girl band called Grace Galaxy set up by the pastor and others were still at school, the judge said.

With South Africa battling high rates of rape and abuse of women and children, dozens of women picketed outside the court in the eastern coastal city of Gqeberha as the verdict was being read out.

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Thousands of people rallied in several cities on Tuesday to demand that authorities take action after a seven-year-old girl was allegedly raped at her school last year. There have been no arrests.

According to police figures, 42,500 rapes were reported in South Africa in the financial year 2023-24.

AFP

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