GTB, Access, UBA, Others Send Messages to Customers on Bank Account Update, Give Deadline

LegitFeb 28, 2024Read original

journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian

, stocks, and general market trends.

Nigerian banks have notified their customers of the need to update their bank account information with their Bank Verification Number (BVN) and National Identification Number (NIN) before Friday, March 1, 2024, deadline.

The banks said it is in response to the Central Bank of Nigeria's recent circular dated December 1, 2023.

, the

stated clearly that customers must link their bank accounts with their NIN and BVN.

Part of the circular reads:

“It is mandatory for all Tier-1 bank accounts and wallets for individuals to have BVN and/or NIN.

It remains mandatory for Tiers 2 and 3 accounts and wallets for individual accounts to have BVN and NIN."

The banks warned that customers who fail to

information risk being unable to carry out transactions.

Access Bank, United Bank for Africa, Ecobank, and Guaranty Trust Bank are among the banks that have sent out

The message from EcoBank reads:

please be informed that the Central Bank of Nigeria (CBN) through its circular dated December 1, 2023, has announced that all accounts without Bank Verification Number (BVN) and/or the National Identity Number (NIN) would not be able to carry out transactions from March 1,2024.

"Consequently, you will be required to update your account information with your National Identification Number (NIN) and Bank Verification Number (BVN) if you have not done so already.

"Kindly click on the customer update link https://customerupdate.ecobank.com/ciu/login

"Input your account details, Tick the terms and conditions box, An OTP will be sent to your registered email address, Input OTP and submit, Click on Request, Select statutory ID or identification update and upload a copy of your NIN document. Tick the acceptance box and submit."

sent out a similar message to its customers.

"Dear Valued Customer, we would like to inform you of the mandatory requirement to link your Bank Verification Number (BVN) and National Identity Number (NIN) to your personal GTBank Account.

"The process of linking your BVN and NIN to your Account is simple and can be completed using any of these channels:

"Dial *737*20*BVN# from your registered mobile number to link your BVN or Visit our website www.gtbank.com self service portal to link your BVN and NIN or Visit the nearest GTBank branch to link your BVN and NIN to your account."

also reported that the CBN instructed Nigerian financial institutions to display their corporate

on all their online business platforms, which include websites, portals, and mobile apps.

The directive affects banks, payment service providers, and international money transfer operators.

The CBN

in a circular signed by Haruna Mustafa, the CBN's financial policy and regulation director.