The major reason why CBN wants to check fraud, money laundering, and fraudulent transactions. Unfortunately, just like the cash swap, there are usually unintended consequences that affect simple folks.

I believe CBN should give deadlines in phases because most money laundering activities are done in large amounts, so any account or transaction above 100 million must have their accounts linked to their NIN and BVN not later than the 21st of March.

Then those with 50 million and above not later than the 31st of March.

10 million and above not later than the 15th of April and so on.

All those with less than 20k can have until August to do theirs, that way there will not be crowds in the banks.