News Express banner Camano banner
BVN enrolment hits 20.8m, says CBN

By News Express on 31/10/2015

Views: 3,254


The Central Bank of Nigeria (CBN) said on Thursday that about 20.8 million active account users enrolled on the Bank Verification Number (BVN) as at October 25.

The Director, Corporate Communications, CBN, Mr Ibrahim Mu'azu, announced this on the side-line of the Fiscal Liquidity Assessment Committee workshop on Thursday in Abuja.

Mu'azu said that the CBN had no plans to extend the deadline of the exercise.

He said that the current figure was obtained from the Nigeria Inter-Bank Settlement System Plc (NIBSS).

“While it can be said that some substantial efforts have been made in terms of enrolment and successes recorded, what is left is for the remaining account holders to get their accounts linked to BVN.

“Furthermore, Nigerian banks’ customers in the Diaspora have taken advantage of more facilities provided for enrolment in more locations abroad.

“The updated information on the locations for the enrolment of Nigeria banks' customers in the Diaspora can be accessed through the NIBSS website.”

Mu'azu said that to show that most people complied with the apex bank's directive, there was less pressure in the banking halls across the country even as the deadline was drawing to a close.

“The point needs to be stressed here that it is not enough to just enrol for BVN. The process is duly concluded only when all accounts owned by a bank customer are linked to his or her BVN.

“"From the foregoing, it becomes clear that the insinuation of about 32 million accounts holders yet to enrol was simply a misrepresentation that fails to take into consideration the multiple accounts holding habit of most Nigerians.

“All said, if anyone has not enrolled for BVN, it cannot be attributed to lack of facilities, but out of his or her individual volition.

“By all indications, it can be safely said that the BNV exercise by the Bankers’ Committee in collaboration with the CBN has proved rather successful.”

A financial expert, Mr Christopher Aigbe, assured Nigerians that the nature of the BVN deadline gave customers opportunities to still register after the exercise ended.

“I don’t really see a deadline. It’s just that it has officially ended and for that, your account will be blocked until you register. Banks don’t have the right to close your account and keep your money.

“So nothing stops you from working into the bank at anytime to register and have your accounts reopened.”

Miss Comfort Haruna, a bank customer, said that BVN registration and linking of accounts would have gone more smoothly if banks had come out with innovative ways early for the exercise.

The News Agency of Nigeria (NAN) recalled that CBN, in collaboration with all banks in Nigeria, on February 14, 2014, launched the BVN.

It is a centralised biometric identification system for the banking industry.

It aims at addressing issues of identity theft, fraud; helps to fish out blacklisted customers; reduces queues in banking halls and standardises efficiency of banking operations.

The CBN said the BVN was to encourage banks to grant loans to Micro, Small and Medium Enterprises (MSMEs) and students in the country. (NAN)

•Photo shows CBN Gov. Emefiele.

Source News Express

Posted 31/10/2015 04:44:22 AM

 


 

CLASSIFIED ADS

 

You may also like...
Southern Kaduna: Non-Indigenes ask warring parties to end...

For Obiano, a garland of honour!

Cultists kill 11 in Rivers’ supremacy battle

Ugwuanyi donates security vehicles to Nigerian Army •Outgoing...

Buhari calls for stronger global alliance to combat...

No restriction of movement as sanitation exercise holds...

Sylva's era the darkest in Bayelsa's history, says...

Minister defends 2016 budget, says it’s not padded...

5 confirmed dead, 39 injured in Maiduguri multiple...

Imo Govt. to grant amnesty to prison inmates,...

NSDC clears the air on Niger pipeline explosion...

May Day: Why workers deserve to be celebrated...

 

Latest News Husband kills wife over plan to re-marry after his death Police share ‘helpful security tips’ JAMB speaks on release of 2019 UTME results National Assembly: Why I’m backing APC’s, Buhari’s position — Tinubu Gunmen abduct three cattle merchants in Taraba Oil spills claim 2 lives in Ogoni Police warn Enugu residents against 'wonder bank operators' Two cheat death on Easter Day Anambra to launch second edition of the Operation Kpochapu Kajuru Castle attackers demand N60m for kidnapped victims Osun to recruit 2,000 food vendors for school feeding Mother, Nurse, others in police net for selling 6 hours old baby

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (470,312 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (414,766 views) Shameless Genevieve Nnaji exposes breasts in public (352,242 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (301,681 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (265,931 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (238,998 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (225,947 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (207,460 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (196,471 views) 10 cars more expensive than Jets (188,612 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (179,023 views) Lagos plane crash: Journalist releases victims’ names (178,451 views)

 

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (86) Business & Economy (4,209) Business Verdict (65) Columnists (1,017) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (607) Features (746) Global Business Monitor (344) ICT Monitor (35) International (3,340) Interview (176) Live Commentary (29) Love Matters (155) Maggie's Blog (232) News (45,190) Opinion (1,226) Pidgin (17) Politics (10,628) Religion (982) Sports (1,963) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera