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Huge Crowd As Customers Storm Banks to Revalidate BVN/NIN
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Huge Crowd As Customers Storm Banks To Revalidate BVN/NIN
By Aisha musa
Huge crowd besieged banking halls on Monday, as customers moved to link their Bank Verification Numbers and National Identity Numbers to their bank accounts.
This followed the new directive of the banking regulator to the banks on Friday, to bar customers who were yet to link their BVN and NIN from having access to their accounts.
The latest obtained from the Nigeria Inter-Bank Settlement System showed that over 75 million bank accounts could be restricted or outrightly blocked as only 59 million BVN was registered as of October 9, 2023.
A senior official of a Tier-1 bank in Lagos said, “The truth is that many banks will find it difficult to cope with the anticipated rush as we have lost several key employees to the Japa syndrome. Besides, the banks had embarked on staff rationalisation to keep the operating expenses low.”
A branch manager of a new generation bank said if the rush of customers without BVN and NIN was much, the lender would have no choice but to extend the working hours for its employees, and might consider working on Saturdays and Sundays to clear the backlog.
