Wetin you need to know about di renewal linkage of BVN and NIN to bank accounts
Wia dis foto come from, NATIONAL IDENTITY MANAGEMENT COMMISSION
Banks for Nigeria don begin dey ask dia customers to go link dia Bank Verification Number (BVN) and National Identification Number (NIN).
Dis na new directive from di Central Bank of Nigeria (CBN) go affect plenty Nigerians wey fail to link dia BVN and NIN.
Many bank account owners don begin dey complain say wetin be di need for di linkage of dia of di two numbers since dem don do am bifor during dia bank registration.
Bifor any new cutomer go fit open a bank account, dem go gatz link dia BVN to dia account but now di CBN dey request make dem go do di linkage.
Wetin be di CBN directive?
For 1 December 2023, di CBN bin announce to all Nigerians for one statement wey dem release give all banks say any bank accounts wey no get both NIN and BVN no go fit withdraw money for dia account.
Dem tag am as 'post no debit or credit', wey mean say di owner of di account no go fit perform any debit or credit transactions ontop dia bank accounts and e go start from April 2024.
Di CBN bin also add say evri BVN and NIN wey dey attached to any bank account must dey validated.
Pipo wey dia bank accounts dey tier 1 wey be say dia transactions no dey too plenty go gatz link dia BVN or NIN (any of di two) while bank accounts wey dey tier 2 and 3 wey be say dem dey always transact plenty money go need both NIN and BVN to dey linked to dia accounts.
End of Di one wey oda users dey read well well
How to link your NIN and BVN to your bank account number
Depending on your bank, na different ways you fit take link your NIN and BVN to your account.
While with some banks you fit do am online, some ask dia customers to use short codes or send email request to dia account officers to woo dem with di process.
Di general advice na for customers to visit dia banks to find out how best to link dia NIN and BVN to dia account.
Expert tok wetin di BVN and NIN linkage really mean
Di CBN don currently put March as deadline for pipo to complete di linkage of dia BVN and NIN details to dia bank accounts again, according to di directive.
As a form of reminder, banks begin dey send messages to dia customers make dem fit meet up wit di CBN directive. Dem wan ensure say dia customers go obey di directive from CBN.
One sabi pesin for finance and economy mata Irene David-Arinze tok say di new linkage of both BVN and NIN by di CBN na anoda way to properly sanitise di financial system.
David-Arinze tok say dis renew linkage dey necessary - "di CBN dey try to do a proper sanitizing of our financial system wey for such a terrible state under di bifor bifor CBN govnor Godwin Emefiele."
"Di linking of di BVN and di NIN go help satisfy a couple issue wey include to sabi di percentage of Nigerians wey dey financially included."
Di sabi pesin tok say di BVN and NIN linkage go even help Nigeria to trace how money dey flow for di economy and anyone wey dey involved for fraud go dey easy to trace.
"E go also help to trace bank accounts wey get link to fraud or illicit financial flows as e go also strenghten di database of customers wey dey use traditonal banks and fintech platforms," David-Arinze tell BBC Pidgin.
She say e fit take some time bifor all di financial reforms like di linking of di BVN and NIN now go get impact but na for di good of everybody for di kontri and CBn dey try clean di banking system well.
