Nigeria freezes 15 million bank accounts with BVN

Nigeria freezes 15 million bank accounts with BVN

A Federal High Court sitting in Abuja, Nigeria’s capital, has ordered the freezing of over 15 million bank accounts without BVN, bank verification numbers.

The temporary order will be in place and could see the government taking over all the funds in the bank accounts for non-compliance with anti-money laundering rules.

The court order request banks to disclose details of millions of personal and business accounts where holders have not provided biometric information and asked the court to stop the accounts operating.