For Microfinance Banks, MfBs, operating in Nigeria, year 2018 would not be forgotten too quickly as it opened with the suspension of their customers’ accounts that are without Bank Verification Number, BVN. The apex regulator, Central Bank of Nigeria, CBN, thereafter, set a state-by-state financial inclusion target for the commercial banks and MfBs to ensure […]
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The Central Bank of Nigeria has said the provision of a valid court order will be a prerequisite for the release of Bank Verification Number information to applicants. The apex bank said this on Tuesday in its amendment of the Regulatory Framework for the BVN Operations and Watch List for the Nigerian Financial System. The […]
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No fewer than 31 million customers have been captured in the Bank Verification Number (BVN), the Central Bank of Nigeria (CBN) has said. “As at December 2017, the implementation of the project recorded 31,426,091 registered BVNs and 43,959,282- accounts linked with BVN,” CBN Director in charge of Banking and Payment System, Mr. Dipo Fatokun, said […]
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The Central Bank of Nigeria has ordered the Deposit Money Banks in the country to suspend the bank accounts and Bank Verification Numbers of their customers linked with any fraudulent activities. The order was contained in a framework released by the CBN to guide the banks in the operations of the BVN. The framework came […]
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The Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa, has said more time should be given to Nigerians in the diaspora to obtain the bank verification number. She made the plea in a statement on Tuesday in Abuja in response to the move by the Federal Government to seize money […]
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Deposit Money Banks have started sending text messages and electronic mails to customers without Bank Verification Number, asking them to come and complete the biometric registration process. Some bank officials told our correspondent on Monday that majority of customers affected by the development were mostly those with names mismatch. Customers, who have different names order […]
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Thousands of customers who own an account with the Nigeria commercial banks without a Biometric Verification Number (BVN) tied to it are likely to forfeits their account to the Government in two weeks time if their owners do not claim them, a Federal High court grants. Trouble for non-BVN account owners started on October 17 […]
Read More In exercise of its powers and in line with its desire to promote and facilitate the development of efficient and effective payment systems in the country, the Central Bank of Nigeria, Thursday issued the regulatory framework for the bank verification number, operations as well as for watch-list of fraudsters in the banking industry. The central […]
Read More The Central Bank of Nigeria, CBN, has extended the Bank Verification Number enrolment for Other Financial Institutions customers which includes MfBs to December 31, 2017. Also, the apex bank said that with effect from January 1, 2018, all customers without BVN linked to their account should no longer be entitled to debit operations. Director, Other […]
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The Central Bank of Nigeria (CBN) , has extended the Bank Verification Number , (BVN), registration exercise for Nigerian Banks’ Customers leaving outside thev country to June 30, 2016. According to a circular posted on the banks’ website, Thursday, the decision to extend the deadline which was initially January 31, was as result of low […]
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