FLASH: CBN Sets to Close Millions of Bank Accounts in GTB, Access, Zenith, First Bank, Others (See Reasons)

FLASH: CBN Sets to Close Millions of Bank Accounts in GTB, Access, Zenith, First Bank, Others (See Reasons)

The Central Bank of Nigeria (CBN) has recently made an announcement to address the increasing incidents of fraud in the financial sector. As part of their efforts to combat this problem, the CBN has planned to close millions of bank accounts that are not linked to a Bank Verification Number (BVN). The BVN is a biometric identification system that was introduced by the CBN in 2014 to uniquely identify customers and reduce cases of fraud…

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