The National Bank of Ethiopia has extended the deadline for bank customers to link their accounts with the country’s digital identification system, Fayda National Digital ID, citing low completion rates despite earlier efforts.
In a statement, the central bank said the initial deadline of March 30 had not achieved the expected level of compliance relative to the total number of account holders.
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Under the revised timeline, customers in Addis Ababa, Harari Region, and 25 major cities are now required to complete the linkage by May 6, while those in the rest of the country have until June 30.
The bank noted that more than 40 million users have already registered for Fayda and that the system is capable of processing up to 2 million customers per day through digital onboarding (e-KYC).
Customers who fail to meet the new deadline will face restrictions on their accounts. These include a “no debit” status, preventing withdrawals, transfers, mobile banking payments, and check withdrawals. However, deposits and incoming transfers will remain permitted. The restrictions will be lifted once the account is successfully linked to a Fayda ID.
The measure is part of Ethiopia’s broader push to strengthen financial transparency, improve customer identification, and expand the use of digital public infrastructure in the banking system.
Source: Capital Ethiopia
