Monday, July 15, 2024
spot_imgspot_imgspot_imgspot_img
HomeNewsBanks In Nigeria Close 2 million Accounts Over NIN, BVN, Others

Banks In Nigeria Close 2 million Accounts Over NIN, BVN, Others

Nigerian commercial banks closed at least 2 million bank accounts in the first quarter of 2024, Q1’24.

ALSO READ: Jamb Says UTME Results Not Available In Paper Format

The move was aimed at eradicating questionable accounts, particularly as some customers failed to comply with regulatory orders on the linkage of their accounts to the National Identity Number, NIN.

The Central Bank of Nigeria, CBN, had in December 2023, issued a directive to all commercial banks in the country to restrict tier-1 accounts without proper NIN and Biometric Verification Number, BVN.

In a recent report by the Nigerian Interbank Settlement System, NIBSS, it was gathered that over two million accounts were closed in line with the CBN directive.

The NIBSS also indicated that the number of inactive bank accounts grew month-on-month, MoM, by four million or 2.0 per cent to 19.7 million in March 2024 from 19.3 million in the previous month, February.

However, the report which was sighted by Vanguard also indicated that the number of active bank accounts in the country grew by 6.62 million or 3.0 percent to 219.64 million from 213.02 million in February.

A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.

CULLED FROM DAILY

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments

sildenafil generic australia on Abandoned IDP Camp Discovered In Kaduna
Daniel Grace on WORLD DOWN SYNDROME DAY
Danjuma Saddiq on THE CONSPIRACY IN SOKOTO
Yakkon Damaryam on The War against Glaucoma
Shehu Danbaki on IMG-20181125-WA0070
Seth Yamusa on Hon Danjuma Peter Averik
Ibraheem Awowole on MEET OUR PATHFINDER FOR OSUN 2018
Amb. Hoom'Suk. on Sarauniya Beauty Pageant 2017