Sign Up to Our Newsletter

Be the first to know the latest updates

Business

Nigerian Banks Issue Urgent Notices to Customers Regarding Account Updates

The Central Bank of Nigeria (CBN), Nigerian banks have issued urgent notifications to their customers, emphasizing the need to update their bank account information with their Bank Verification Number (BVN) and National Identification Number (NIN) before the impending deadline of Friday, March 1, 2024.

Failure to comply with this directive may result in customers being unable to carry out transactions, warned the banks.

Several leading banks including Access Bank, United Bank for Africa (UBA), Ecobank, and Guaranty Trust Bank (GTBank) have initiated this process and provided both online and offline channels for customers to update their information promptly.

The circular from the CBN, dated December 1, 2023, mandates all Tier-1 bank accounts and wallets for individuals to be linked with BVN and/or NIN. Similar requirements apply to Tiers 2 and 3 accounts and wallets.

Specific Instructions from EcoBank and GTBank:

  • EcoBank: Customers are directed to update their account information using the provided link and following the outlined steps, including providing NIN documentation.
  • GTBank: Customers are informed of the mandatory requirement to link BVN and NIN to personal accounts, with options to complete the process via USSD code, website, or branch visit.

The CBN’s directive extends further to require financial institutions to display their corporate names on all online business platforms, ensuring transparency and accountability in the banking sector.

Timeless Update Reporter

Timeless Update Reporter

About Author

With a wealth of experience in journalism and digital media, we bring a keen eye for detail and a commitment to excellence. We ensure that every article meets the publication's standards of quality and accuracy. Our dedication to journalistic integrity and strategic editorial guidance contributes to Timeless Update's reputation as a trusted source of news and information.

Leave a Reply

Welcome to Timeless Update, where we curate and deliver the latest news and trends with a touch of timeless elegance. 

Get Latest Updates and big deals

    Join us on a journey of discovery and enlightenment as we explore the past, present,

    Timeless Update @2023-2024. Developed by Dozen.com.ng . All Rights Reserved.