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NIN linkage: Millions to lose access to their money as banks ‘move’ to block accounts
NIN linkage: Millions to lose access to their money as banks ‘move’ to block accounts
Over 70 million bank customers are at risk of losing access to their accounts when the Central Bank of Nigeria’s directive on restricting accounts without Bank Verification Numbers (BVN) and National Identification Numbers (NIN) goes into effect.
The CBN had on December 1, 2023, in a circular directed that a ‘Post no Debit’ restriction be placed on all bank accounts without the BVN and NIN from Friday, March 1, 2024.
‘Post No Debit’ is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from such accounts. This measure effectively freezes the funds in the account, rendering them inaccessible for the duration of the restriction.
The circular, jointly signed by the Director, Payments System Management Department, Chibuzo Efobi; and Director, Financial Policy and Regulation Department, Haruna Mustapha, read, “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 & 3 accounts and wallets for individual accounts to have BVN and NIN.
“For all existing Tier-1 accounts/wallets without BVN or NIN: Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied. Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted. The BVN or NIN attached to and/or associated with all accounts/wallets must be electronically revalidated by January 31, 2024.”
The circular went on to warn banks in the country that a “comprehensive BVN and NIN audit shall be conducted shortly and where breaches are identified, appropriate sanctions shall be applied.”
As the deadline approached, some banks sent out messages to their customers to regularise their accounts in line with the new CBN directive. While some asked customers to visit their physical branches, others made provisions for customers to update their accounts online.
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FirstBank Nigeria in an email to customers said, “Please ensure that your Bank Verification Number and National Identification Number are linked to your account number on or before February 29, 2024.
“You can seamlessly update your account information with your BVN and NIN by visiting any FirstBank branch close to you. Please note that the Central Bank of Nigeria through its circular: PSM/DIR/PUB/CIR/001/053 dated December 1, 2023, has directed that effective March 1, 2024, all funded accounts without BVN shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted.”
Ecobank Nigeria wrote, “Please be informed that the Central Bank of Nigeria through its circular dated December 1, 2023, has announced that all accounts without Bank Verification Number and/or the National Identity Number 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 and Bank Verification Number if you have not done so already.” It, however, offered an online solution.
Fintech firm, OPay, also called on its customers to complete the regularisation of their accounts by linking their BVN or their NIN as mandated by the apex bank, offering them both online and offline options.
A Tier-1 account refers to a bank account that can be opened with minimal or no form of documentation. Such an account can be opened with a passport photograph and has a limit of N50,000 deposit and an operating balance of N200,000 and is mostly not linked to the BVN and is targeted at the unbanked population.
This space is dominated by fintech firms and there are concerns that the lax Know Your Customer requirements are loopholes that are being used to perpetuate fraud.
The National President of the Association of Mobile Money and Bank Agents in Nigeria, Sarafadeen Fasasi, who called for an extension of the deadline, said while the policy was a good move to improve banks’ KYC requirements, its implementation was worrisome.
He said, “We are all aware that it is a good policy for the system for us to have good KYC, but unfortunately, what we have a challenge with is the implementation. This is another wrong implementation. Before you give a deadline, you must have provided the access points. As of today, we have about 104 million NINs out of 200 million people expected to have NINs. So, there is a gap of about 100 million.
“It is the same thing with the BVN, which as of the last report was about 59.9 million out of 134 million expected bank accounts. That means we have over 70 million accounts, which will be affected.”
According to data from Statista, as of 2021, the number of active bank accounts in the country was around 133.5 million, with savings accounts making up about 120 million.
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Fasasi claimed that the National Identity Management Commission lacked the capacity to deliver 100 million NINs within the required timeframe.
He said, “The question is, can the NIMC deliver the gap of about 100 million NINs within the deadline? The answer is no, so why should this drive Nigerians into another problem? For BVNs, we have a huge gap to deliver and only bank branches can enrol BVN as of today.
“Based on our research, about 300 local government areas out of the 774 LGAs in Nigeria have no bank branches; so, who are those who are going to provide BVN enrolment at those LGAs? It means that people are going to run into trouble.
“Also, the highest that the banks have done is 500,000 enrolment per month. We are not ready for this. Why the rush? Why not plan that every month, this is what we want to achieve based on our capacity and access points?”
He lamented that this was coming at the same time as the National Communications Commission had directed telecom companies to bar mobile lines without the NIN.
“Who is pursuing us in Nigeria in this critical period where everyone is groaning under adverse economic conditions? They want to add extra trauma; I think we need to reconsider this,” he concluded.
The Chairman, Consumer Rights Awareness, Advancement and Advocacy Initiative, Moses Igbrude, said the apex bank ought to assess the level of compliance before wielding the big stick.
He said, “You must check the challenges and the parties who are responsible for the NIN and BVN. What of Nigerians in the Diaspora? They should give more time for this linkage so that they will not disrupt the banking system.
“It is a multifaceted issue involving many players. What is the infrastructure required for them to work? Otherwise, they will use a legal way to disenfranchise a lot of people.”
The President, Bank Customers Association of Nigeria, Dr Uju Ogubunka, called for an extension of the deadline to enable more bank customers regularise their accounts in line with the CBN directive.
Ogubunka said, “We know that some of our members have linked their accounts with the BVN/NIN as directed by the CBN. At this point, I think it will be wise to give an extension, because the telecom network has been a bit inclement and, then of course, you talk about power; some of us were unable to charge our phones for some time because there was no power. And these things are happening almost everywhere.
“People are willing to do what they’re supposed to do, but conditions within the environment are a bit difficult. So, I will personally suggest that we consider what is happening and give some extension.”
He went on to suggest that a test run where restrictions would be placed on some affected accounts might be of help in sensitising people to the importance of the directive.
“Another thing that they can do is maybe do a test run so that people will know that it is something that can be done. Some people may not even believe that it is possible to restrict transactions. So, if you do a test run for one day or even a few hours, you announce that those who have not linked up will be unable to access their accounts temporarily, maybe for 24 hours or 12 hours, then give an extension. That should help,” Ogubunka added.
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He stated that there had been no reports that banks had started to restrict bank accounts without the BVN and NIN.
“No one has reported that to us yet. But then, they may not know until they want to make use of the accounts. It is not as if they are using the bank accounts every minute of the day. It is only when they want to make use of it and then see that they can’t get through, that is when they have an issue. So far, we don’t have any report on that,” he said.
Multiple bankers, who spoke on condition of anonymity, said the banks had not yet started to restrict accounts without the BVN and NIN.
They said directives had been issued from their headquarters to create a seamless linking process to avoid account deactivation.
A bank official said, “No one is deactivating accounts yet. They have been sending emails to customers to calm down so that a more seamless linking process will be communicated to customers. They will be reached via text and email. Some people used the NIN to open or update their accounts already so they won’t need to do it again.”
On the number of possible affected customers, the official stated, “We haven’t got the affected number yet. It has to be spooled by our IT team from the backend.”
Another official confirmed the directive to assist more customers via email.
“The deadline still stands; however, not all accounts are blocked because some opened theirs with the national ID from the inception. But we will be reaching out via email and text,” the official wrote to one of our correspondents.
A News Agency of Nigeria report on Friday revealed that customers continued to besiege various bank branches in Lagos to meet the CBN deadline for linking BVN and NIN to their accounts.
The customers also asked the CBN to extend the deadline for them to link their BVNs and NIN with their accounts.
With the implementation of the directive, there was a significant gathering of customers at various banks as early as 8am on Friday to link their NINs with their bank accounts.
A security officer at a Guaranty Trust Bank branch in the Abule Egba area, while addressing customers who were eager to gain entry into the banking hall, said the message sent out by the bank to its customers concerning the directive was a random one.
He said not all customers that got the message were affected by the directive. This got the customers infuriated, as they said the bank should have sent out messages to only those affected. At another GTB branch in Egbeda, the bank advised customers to register online using specified codes displayed on the walls outside the banking hall.
However, at Polaris Bank, the crowd was not allowed to converge, and those who went into the banking hall were told by the customer service desk to produce their NIN slips.
Those without the slips were turned back. Customers who explained their mission to the bank’s security officers before entering the banking hall were told to get the slips.
Two bank employees used mini computers to do the first registration at the entrance before the security guards allowed the customers into the banking hall.
At Providus Bank on Nnamdi Azikiwe Road, customers were given forms and were assisted with registration simultaneously. The situation was similar at Wema Bank on Broad Street and other banks visited on Lagos Island.
Meanwhile, calls and text messages sent to the CBN spokesperson, Hakama Sidi, yielded no response as of the time of filing this report.
NIN linkage: Millions to lose access to their money as banks ‘move’ to block accounts
(PUNCH)
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Hajj 2026: Arafat Sermon to be Translated into Yoruba, Hausa, 33 Other Languages
Hajj 2026: Arafat Sermon to be Translated into Yoruba, Hausa, 33 Other Languages
MAKKAH — As pilgrims continue to arrive in the Kingdom of Saudi Arabia ahead of the 2026 Hajj exercise scheduled to commence on Monday, the Head of Religious Affairs at the Grand Mosque and the Prophet’s Mosque, Sheikh Professor Dr. Abdulrahman bin Abdulaziz Al-Sudais, has announced that this year’s Arafat Day sermon will be translated into 35 international languages, including Hausa and Yoruba, to enable non-Arabic speaking Muslims to benefit from the sermon’s spiritual and humanitarian messages.
According to Al-Sudais, the Presidency of Religious Affairs would not only translate the sermon to be delivered by Sheikh Dr. Ali bin Abdulrahman Al-Hudhaifi, an Imam and preacher in the Prophet’s Mosque in Madinah, into the 35 languages, but also broadcast it via digital platforms and channels affiliated with the Presidency. This initiative, he said, is aimed at conveying the message of Islam and the content of the sermon to Muslims across the world, adding that the translation is an extension of efforts being made by the Kingdom of Saudi Arabia to serve Islam and Muslims. Al-Sudais described the Arafat sermon translation project as “one of the qualitative initiatives in which the Presidency has accumulated experiences over many years,” contributing to enriching religious content in various international languages. The translation of the Arafat sermon is designed to enable non-Arabic-speaking Muslims to benefit from the contents of the sermon and the comprehensive faith and humanitarian messages it carries. Al-Sudais noted that the Presidency has harnessed its technical and media capabilities, along with specialized teams, to ensure the sermon reaches the widest possible global audience with high professionalism and advanced quality standards. He emphasized that the translation project helps deliver the sermon’s themes to Muslims worldwide and convey Islam’s message of moderation. “The initiative enables non-Arabic-speaking Muslims to benefit from the sermon’s spiritual and humanitarian messages,” Al-Sudais stated.
Al-Sudais informed that the languages approved for translating the Arafat sermon include a diverse range of languages spoken across Africa, Asia, Europe, and other regions. The major global languages include English, French, Spanish, Chinese, Russian, German, Italian, Portuguese, and Swedish. Asian languages include Indonesian, Urdu, Turkish, Persian, Bengali, Hindi, Malay, Pashto, Punjabi, Tamil, Filipino (Tagalog), Uzbek, Tajik, Nepali, Sinhala, and Malayalam. African languages include Hausa, Yoruba, Swahili, Amharic, Somali, Oromo, Tigrinya, and Ugandan. European languages include Bosnian and Lithuanian. According to Al-Sudais, the Presidency of Religious Affairs has accumulated experiences over the years in the translation project, noting that the initiative is meant to enrich religious content in various languages and enable non-Arabic-speaking Muslims to benefit from the contents of the Arafat sermon.
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Al-Sudais further informed that the Arafat Day sermon this year will be delivered by His Eminence Sheikh Dr. Ali bin Abdulrahman Al-Hudhaifi, an Imam and preacher in the Prophet’s Mosque in Madinah. The sermon is scheduled to be delivered on Tuesday, May 26, 2026, corresponding to the 9th of Dhul-Hijjah 1447AH, from the pulpit of Masjid al-Namirah on Mount Arafat. Sheikh Ali Al-Hudhaifi is widely regarded as one of the most distinguished Quran reciters and influential religious personalities in the Muslim world. He has served not only as Imam of Masjid-e-Nabawi but has also previously led prayers at Quba Mosque and Masjid al-Haram. Al-Sudais described the sermon as “one of the greatest comprehensive faith messages followed by Muslims in the east and west of the earth,” noting that it enjoys wide attention because of the Sharia contents and comprehensive directives it contains that confirm the tolerance and mercy of Islam and its call for goodness, peace, and harmony among peoples.
This year’s five-day Hajj exercise will commence on Monday, when pilgrims will depart from Makkah for Mina, also known as Tent City, to begin their Hajj journey. Pilgrims will spend the 8th day of Dhul-Hijjah (Day of Tarwiyah) in Mina, praying and preparing for the central rites ahead. On Tuesday, May 26, pilgrims will converge on Mount Arafat, also known as Jabbal Rahma (Mount of Mercy), and its valley. The Day of Arafat marks the zenith of the Hajj exercise. Following the Sunnah of Prophet Muhammad (peace be upon him), pilgrims will perform the Dhuhr and Asr prayers together at noon time in the Namira Mosque. As the sun sets on Arafat, pilgrims will proceed to Muzdalifah, where they will perform the combined Maghrib and Isha prayer and spend the night until dawn of the 10th day of Dhul-Hijjah. After praying Fajr, they will proceed to Mina to begin the stoning of the Jamarat ritual. Pilgrims will spend the next three days engaging in, among other activities, stoning the Jamarat (the pillars representing Satan). The exercise will come to an end on May 29, when pilgrims are expected to return to Makkah, preparatory to their departure for their various countries.
For Nigerian pilgrims, the inclusion of Hausa and Yoruba among the 35 languages is particularly significant. Nigeria, with one of the largest Muslim populations in Africa, sends tens of thousands of pilgrims to Saudi Arabia annually. The ability to follow the Arafat sermon in their native languages will deepen their spiritual experience and understanding of the profound messages delivered on the most important day of the Hajj. According to Al-Sudais, the sermon will be broadcast live through digital platforms and channels affiliated with the Presidency of Religious Affairs. The Presidency has mobilized its technical and media capabilities to ensure the sermon reaches the largest possible segment around the world with high professionalism and advanced quality. As the 2026 Hajj season approaches, millions of pilgrims from around the world are expected to converge on the holy city of Makkah. The Presidency of Religious Affairs will continue to provide updates and guidance for pilgrims through its digital platforms and official channels. For the millions of Muslims who will not be able to make the journey this year, the translated and broadcast Arafat sermon will offer an opportunity to spiritually connect with the proceedings from their homes across the world.
Hajj 2026: Arafat Sermon to be Translated into Yoruba, Hausa, 33 Other Languages
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Fuel Subsidy, FX Reforms: Cabals Plot to Destabilise Nigeria — Tinubu
Fuel Subsidy, FX Reforms: Cabals Plot to Destabilise Nigeria — Tinubu
Published: May 20, 2026 | Read Time: 6 minutes
President Bola Ahmed Tinubu has raised a strong alarm that certain vested interests are attempting to destabilise Nigeria in retaliation for his administration’s removal of fuel subsidy and unification of the foreign exchange market. The President’s warning was delivered by former Ogun State Governor, Chief Olusegun Osoba, during the launch of The NADECO Story and awards ceremony for pro-democracy heroes held at the MUSON Centre in Lagos, where Tinubu also hinted at more reforms if he secures a second term in office.
President Tinubu’s message was delivered on Wednesday by Chief Olusegun Osoba, a former governor of Ogun State, during the launch of The NADECO Story and an awards presentation to democracy heroes and activists held at the Shell Hall of the MUSON Centre, Onikan, Lagos. The President, who was the special guest of honour at the event, commended pro-democracy activists and political associates for their contributions to the struggle for democratic governance in Nigeria. According to Osoba, President Tinubu said he “would not have been where he is today” without the sacrifices of those who fought for democracy in the country.
Osoba also revealed that the President promised to address several political reforms and demands being canvassed by stakeholders if he secures a second term in office. “He has asked me to tell you that, by the grace of God, many of what you have been asking him to do, he would start implementing when he gets his second term,” Osoba said. The former governor of Ogun State stated that Tinubu’s immediate focus remains economic recovery and national security .
Speaking on the economy, Osoba stated that the President believed the administration’s reforms were already producing tangible results. He pointed to the narrowing gap between the official and parallel foreign exchange markets as evidence of progress. “You can see the difference between the parallel and the official markets is virtually zero. The naira, which was about N2,000 to one dollar, is now around N1,380,” he said . According to recent data, the gap between the official and parallel market exchange rates, which previously exceeded 30 per cent, has now fallen below two per cent . The administration has also recorded significant improvements in foreign reserves, which rose from about 32billioninmid−2024to∗∗49.4 billion by the end of March 2026**, representing approximately 13 months of import cover .
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On security, Osoba said the President was worried about rising threats in the South-West and alleged that some interests were attempting to disrupt the country in reaction to the ongoing economic reforms. “He is aware that there is a deliberate attempt to disrupt the peace of the country by those he knew he had offended by cancelling the multiple exchange rate regime and removing fuel subsidy,” Osoba said . Osoba added that despite opposition from entrenched interests benefiting from the old system, Tinubu remained committed to continuing reforms aimed at repositioning the economy. “Those cabals are still round-tripping, but he is determined that if this is the only thing he would do to rearrange the economy, he is ready to face it,” he added.
The President’s allegations of destabilisation come amid escalating political rhetoric as the 2027 election cycle approaches. Opposition figures have intensified criticism of the administration’s economic management, with some labelling the reforms as “organised hardship” and accusing the government of running a “Ponzi economy” . Former Vice President Atiku Abubakar, who has formally submitted his nomination forms to contest the 2027 presidential election on the platform of the African Democratic Congress, has been among the most vocal critics, describing the current economic reality as “organised hardship dressed up as reform” .
Earlier in his remarks at the MUSON Centre event, the Secretary-General and spokesman of the National Democratic Coalition (NADECO) , Chief Ayo Opadokun, described the occasion as a defining moment in Nigeria’s democratic history. According to him, the ceremony was organised to correct what he described as a long-standing omission in the country’s collective memory by formally recognising patriots, media organisations, human rights activists, diplomats and others who resisted military rule during the regime of late Head of State, Sani Abacha . Opadokun said the period between 1994 and 1998 remained one of the darkest eras in Nigeria’s political history, marked by repression, suppression of human rights and intimidation of dissenting voices. “Yet, in the face of that darkness, a courageous light persisted,” he said. “That light was carried by men and women of conviction within NADECO and beyond who chose resistance over silence, truth over fear and sacrifice over comfort.”
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Also speaking at the event, Nobel laureate Professor Wole Soyinka described Nigeria as “a republic of liars” but said the newly presented book on the country’s democratic struggle stood out for its honesty and authenticity. “I have had the occasion to describe Nigeria as a republic of liars. But this is one instance in which the nation is redeemed from that reputation of violent lies,” Soyinka said. The literary icon said he had carefully read the book and found its contents credible and truthful. “Every page of this book, which I have read carefully, rings of truth,” he stated, adding that the account was strengthened by documentary evidence and firsthand participation by the author. “The author doesn’t pretend that this is the whole story, but he tells his part of it, which is investigated,” Soyinka added.
Also speaking, the Olubadan of Ibadanland, Oba Rasheed Ladoja, said many individuals contributed to the democratic struggle away from public attention. “People think we have to be on the streets to show commitment to a cause. I don’t think so. Some of us worked in the background and did so effectively,” he said. “I am a democrat at heart and I will do anything to protect democracy.” Ladoja recalled that he went into exile following political persecution and said many untold stories remained from the pro-democracy struggle. “There are many things that happened during the democratic struggle which many people do not know. I want to urge Pa Osoba to tell his story,” he said.
During the ceremony, participants observed a minute of silence in honour of pro-democracy activists, politicians, professionals and nationalists who lost their lives during the struggle against military rule and in subsequent years. A major highlight of the event was the launch of The NADECO Story, a publication chronicling the coalition’s role in resisting authoritarian rule and defending democratic ideals. Describing the book as “a repository of truth and a chronicle of resistance,” Opadokun said the publication would help preserve the history of the pro-democracy struggle for future generations. “It offers younger generations an opportunity to understand the price of the freedoms they enjoy today, while providing scholars, policymakers and citizens with a credible account of one of the most defining periods in our national history,” he said.
The NADECO event unfolded against a backdrop of heightened political tensions. Peter Obi, the former Labour Party presidential candidate, has recently criticised the Tinubu administration, stating that “yesterday defenders of democracy, today’s destroyers” and suggesting that the late dictator Sani Abacha was “more democratic” than some former NADECO members now in power . Meanwhile, the Emir of Kano, Muhammadu Sanusi II, has raised concerns over the federal government’s continued reliance on borrowing, despite the removal of petrol subsidy, warning that weak fiscal discipline could undermine the gains expected from recent economic reforms .
Fuel Subsidy, FX Reforms: Cabals Plot to Destabilise Nigeria — Tinubu
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NYSC Charges Corps Members on Election Duties as Camp Closes in Osun
NYSC Charges Corps Members on Election Duties as Camp Closes in Osun
The National Youth Service Corps (NYSC), Osun State, has officially concluded the 2026 Batch ‘A’ Stream II Orientation Course with a low-key closing ceremony held at the NYSC Permanent Orientation Camp, Ede, marking the end of the three-week training programme for corps members deployed to the state.
Speaking at the ceremony, the State Coordinator, Mr. Ekeng Kubiangha, congratulated the corps members on the successful completion of the orientation exercise and commended their discipline, resilience, cooperation, and active participation throughout their stay in camp. He explained that the orientation course was deliberately designed to prepare corps members for the realities of national service, describing it as a foundation for nation-building, leadership development, and civic responsibility.
Kubiangha highlighted key components of the programme, including paramilitary drills, leadership training, security awareness lectures, citizenship and civic education, and the Skills Acquisition and Entrepreneurship Development (SAED) programme. According to him, these modules were structured to equip corps members with practical knowledge, discipline, and entrepreneurial skills needed to thrive beyond their service year. He urged participants not to abandon the SAED programme after leaving camp, encouraging them to take advantage of post-camp training opportunities across their local government areas to promote self-reliance, entrepreneurship, and job creation.
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The Coordinator advised corps members to settle quickly into their Places of Primary Assignment (PPA) and perform their duties with professionalism, diligence, and integrity. He stressed the importance of punctuality, dedication to duty, respect for authority, and ethical conduct, noting that the behaviour of corps members plays a vital role in shaping the public image of the NYSC scheme.
He also encouraged corps members to actively participate in Community Development Service (CDS), describing it as a key platform for identifying and addressing challenges within host communities through impactful projects. Ahead of the forthcoming governorship election in Osun State, he reminded corps members of their expected role as ad-hoc electoral officials, urging them to remain neutral, professional, and law-abiding throughout the electoral process. He warned against partisan involvement, adding that corps members must avoid any activity that could compromise their safety or the credibility of the election.
Kubiangha cautioned corps members to remain security conscious, avoid unauthorized travel, and respect the customs and traditions of their host communities. He also warned against the misuse of social media, urging them to avoid spreading fake news, misinformation, and inflammatory content that could damage the reputation of the NYSC scheme. Corps members were further advised to maintain regular communication with NYSC officials at their places of deployment.
A highlight of the event was a donation by members of the Orientation Broadcasting Service (OBS), who presented a newly fabricated metal door to the OBS studio as part of efforts to improve camp facilities. The ceremony also featured the presentation of awards to outstanding individuals and agencies for their contributions to the success of the orientation programme. Award recipients included ASP Oluwaseun Deborah as Best Collaborating Agency Representative, Staff Sergeant Bukar Mallam as Best Collaborating Camp Officer, and James Augustine as Best Camp Official (Non-Staff). NYSC staff members honoured included Mr. Waheed Ajayi (Deputy Camp Director), Miss Akinsanmi Kikelomo (Head of ICT), and Mrs. Catherine Otemuyiwa (Head of Information and Public Relations Unit).
On behalf of the Director-General of NYSC, Brigadier General O. O. Nafiu, the State Coordinator formally declared the 2026 Batch ‘A’ Stream II Orientation Course closed, wishing corps members safe journeys to their various Places of Primary Assignment (PPA) and a successful service year ahead.
NYSC Charges Corps Members on Election Duties as Camp Closes in Osun
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