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The Central Bank of Nigeria (CBN) on Friday said it has become mandatory for all Tier-1 bank accounts and wallets for individuals to have either the Bank Verification Number (BVN) or National Identity Number (NIN) or both.
Owing to this, the central bank warned that effective March 1, 2024, all funded accounts or wallets without BVN or NIN shall be placed on “Post No Debit or Credit” and no further transactions permitted.
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