BVN: 26 million unregistered bank account to be frozen by CBN


According to the Central Bank of Nigeria, CBN more than half of the 56 million bank accounts is yet to comply with the Bank Verification number (BVN) registration exercise as at Monday 26th October.

The CBN says there is no extension to registration deadline while unregistered account are to lose access to their accounts until they comply.An official of the apex bank said the exact figures of defaulting accounts while be confirmed by next week.

He says:“Field reports show that there has been increased surge in the number of registrations per day since last week, but it is clear that we may not exceed 50 percent by the deadline.”


Managing Director, Ecobank Nigeria Plc, Jibril Aku, had said last month that bank customers who fail to meet the October 31 deadline to enroll on the BVN network will have their accounts frozen.

Aku, who spoke at the end of the 324th meeting of the bankers’ committee in Lagos, said there was no going back on the new deadline set by CBN for customers to obtain their BVN.

He said: “There will be no extension of the October 31 deadline. All efforts have been made by the committee, CBN and Nigeria Interbank Settlement System for bank customers to obtain their BVN.

“The customers, who fail to meet the deadline will not be able to operate their accounts until they comply.”

SOURCE:The Vanguard, Gistmie