• Television
  • Editorial
  • Personality
  • Style
  • Echoes of the Past
  • Press Clip
  • Column
    • Capital Matters
    • Eye Witness
    • Frank Talk
    • Insights
    • Naija Gists
  • Download Magazine
    • View Cart
  • Television
  • Editorial
  • Personality
  • Style
  • Echoes of the Past
  • Press Clip
  • Column
    • Capital Matters
    • Eye Witness
    • Frank Talk
    • Insights
    • Naija Gists
  • Download Magazine
    • View Cart
  • Home
  • News
    • National
    • International News
  • Politics
  • Education
  • Business
  • Entertainment
  • Sports
  • Health
  • Law
  • Shop
  • Home
  • News
    • National
    • International News
  • Politics
  • Education
  • Business
  • Entertainment
  • Sports
  • Health
  • Law
  • Shop
Download Magazine
CBN removes bank accounts not linked to BVN
  • April 7, 2023
  • Unity Times

The Central Bank of Nigeria (CBN) is set to remove bank accounts not linked to the Bank Verification Number (BVN) system from the financial system in an effort to reduce fraud.

Blaise Ijebor, the Director of the Risk Management Department and Chief Risk Officer at CBN, announced this at the Prembly Compliance Breakfast Dialogue on Thursday.

Grow your business with us

Ijebor explained that cybercriminals exploit three loopholes in the system, including the use of Tier-1 accounts, which can be opened with minimal documentation and are not linked to BVN.

These accounts have low deposit limits and are popular among unbanked populations, making them easy targets for fraudsters.

As of March 31, 2023, report from the NIBSS website indicates that there are only 57.01 million registered BVN numbers out of the total 191.4 million bank accounts in the country, with 133.5 million active.

Previous
Next
Share the Post:
Grow your Business
Grow your business with Us
Subscription Ads
Related Posts

Dangote Refinery denies mass sack of staff

Management of Dangote Petroleum Refinery and Petrochemicals has denied the allegation by the Petroleum and Natural Gas Senior Staff Association

Read More

Court directs NMA to verify Nnamdi Kanu’s health status

THE Federal High Court (FHC) in Abuja has directed the Nigerian Medical Association (NMA) to set up a team of

Read More

NUC announces nationwide recruitment, opens application portal

The National Universities Commission (NUC) has announced the commencement of a nationwide recruitment exercise to fill several vacancies at its

Read More

Join Our Newsletter

Unity Times
Facebook-f Twitter
  • Dangote Refinery denies mass sack of staff

    Dangote Refinery denies mass sack of staff

    September 26, 2025 Breaking News, Business, Naija Gists, National, News
  • Court directs NMA to verify Nnamdi Kanu’s health status

    Court directs NMA to verify Nnamdi Kanu’s health status

    September 26, 2025 Breaking News, Health, National, News
  • NUC announces nationwide recruitment, opens application portal

    NUC announces nationwide recruitment, opens application portal

    September 26, 2025 Breaking News, Education, National, News
Get In Touch

Block 4, Wuse ll,

Abuja Nigeria

  • Email: office@unitytimesonline.com
  • Phone:
  • Hours: Mon-Fri 9:00AM - 5:00PM

© 2025 All Rights Reserved.