……The Central Bank of Nigeria has directed a “Post no Debit” restriction on all bank accounts without Bank Verification Number and National Identification Number effective April 2024.
“Post No Debit” is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from their accounts.
This measure effectively freezes the funds in the account, rendering it inaccessible for the duration of the restriction.
….According to Punch, the CBN’s directive was contained in a circular issued by the apex bank and sent to all deposit money banks on Friday.
The Central Bank also stated that all the BVN or NIN attached to and/or associated with AL accounts/wallets must be electronically revalidated by January 31, 2024.
…….The circular was jointly signed by the Director, Payments System Management Department, Chibuzo Efobi, and Director, Financial Policy and Regulation Department, Haruna Mustapha.
More details soon…
Follow us on Facebook
OSUN REPORTERS NEWSPAPER
Metro/Crime5 days ago
How Restaurant Proprietor Was Killed On Duty (Photos)
News2 days ago
Petrol Price Increased To N1000/Litre
Osun News6 days ago
Former EFCC resumes Police Commissioner In Osun
Politics3 days ago
Tinubu makes another set of appointments (full list)
Business4 days ago
Naira Exchange Rates Against Dollar Today
Osun News4 days ago
Gov Adeleke Gives Reason For Sharing Condoms to Osun Civil Servants
Metro/Crime3 days ago
Lion Kills OAU Staff On Campus
News4 days ago
Popular Nigerian Pastor Lays Foundation Of Mosque Building