OPay has advised its customers to comply with the Central Bank of Nigeria’s (CBN) directive to link their Bank Verification Numbers (BVN) or their National Identity Numbers (NIN) to their accounts.
The CBN had issued a circular on December 1, 2023, ordering all deposit money banks to impose a ‘Post no Debit’ restriction on all bank accounts without BVN and NIN by March 1, 2024. This means that customers who fail to update their account information will not be able to access their funds or perform any transactions.
The circular, jointly signed by the Director of the Payments System Management Department, Chibuzo Efobi, and the Director of Financial Policy and Regulation Department, Haruna Mustapha, also stated that “For all existing Tier1 accounts/wallets without BVN or NIN: i. Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or credit until the new process is satisfied.'”
In a statement issued on Thursday, OPay confirmed the CBN’s directive and urged its customers to complete the account information update as soon as possible.
The Managing Director/Chief Executive Officer of OPay, Dauda Gotring, explained that the verification process was aimed at enhancing the security and reliability of the financial system.
He said, “We understand the importance of providing a seamless and secure experience for our customers. This verification process will contribute to a safer financial ecosystem for everyone. We encourage all users to verify their accounts with BVN or NIN and we have built the product to guarantee a smooth process and 24/7 customer service via all channels to provide any support needed.”
OPay also assured its customers that it had various channels of communication and assistance for those who might encounter any challenges or difficulties during the process. The firm said, “Offering solutions, the firm urged customers with complaints or issues encountered during the process to contact OPay’s customer service for assistance via the in-app self-service, its official social media channels, or visit any of OPay’s offices closest to them. They are available 24/7 to resolve any complaints and guide users through the verification process.”
