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CBN Mandates Banks on the Use of BVN, NIN for Transactions from 1 March, 2024

CBN Mandates Banks on the Use of BVN, NIN for Transactions from 1 March, 2024

Central Bank of Nigeria (CBN) has mandated the enforcement of the use of Bank Verification Numbers (BVN) and National Identity Numbers (NIN) for all bank transactions starting from March 1, 2024. The CBN’s circular, jointly signed by Chibuzo Efobi, Director of Payment System Management Department, and Haruna Mustafa, Director of Financial Policy and Regulation Department,…

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