The Central Bank of Nigeria, CBN, has revealed the implication of not registering for a Biometric Verification Number, BVN.
Following the expiration of the deadline for the BVN registration on October 31, CBN has barred bank customers who do not have the BVN from withdrawing from their accounts.
CBN Director of Corporate Communications, Alhaji Ibrahim Mu’azu, said bank accounts without BVN will be operated as “No Customer Initiated Debit” account, until the account holders obtain and attach BVNs to the accounts.
However the accounts would continue to receive cash and electronic credit inflows and would neither be deactivated nor confiscated.
