More than 5 million bank accounts have been suspended by banks across Nigeria on the order of the Central Bank of Nigeria (CBN) following the refusal of the account holders to register for the bank verification number (BVN) as required by the CBN.
Innovation Village obtained copies of account suspension notices that were sent to the holders of such accounts. One of such was from Guaranty Trust Bank of Nigeria (GTBank) which said the holders of such accounts would not be able to make debit transactions until they’ve been able to obtain the BVN.
Innovation Village also gathered that without obtain the BVN, account holders will not be able to make online transactions – even though some customers claimed they submitted their BVN numbers but the banks still suspended their accounts
As a way of assisting affected customers, the banks said BVN registration would continue at their branches across the nation even after the October 31 deadline.
