Commercial Banks Have Closed Some Bank Account
The commercial banks in Nigeria have closed some bank account because they fail to comply with the regulation of the CBN to link their their bank account with their BVN and NIN.
According to information by Nigeria Interbank Settlement System (NIBSS), inactive bank increase Month on Month by four million or 2.0 percent to 19.7 million in March 2024 from 19.3 million in previous month February 2024.
An inactive bank account is that which perform none transaction for 6 month that is no deposit, no withdrawal, no transfer and no point of sale transaction.