Tuesday 30 June 2015

CBN Insists Registration Of Bank Verification Number (BVN) To End Today

The Central Bank of Nigeria (CBN) has said it will not be extending today’s deadline for the registration of bank verification number (BVN).

According to the director, Corporate Communications, CBN, Ibrahim Mu’azu, the window was open for one and a half years and customers had ample opportunity to register. He said more than 14 million bank customers have already registered.

Mu’azu told Leadership Newspapers that not having the BVN will not prevent bank customers from making transactions, such as payments and withdrawals, on their accounts. However, he said that customers using remote access services, such as internet banking and other services online, and even Automated Teller Machines (ATMs), would not be able to transact business. Meanwhile, the apex bank also directed banks to provide online platforms for Nigerians in diaspora to register. Although the registration closes tomorrow, many customers are still unaware of the BVN or its benefits, especially Nigerians living outside the country but who have accounts with local banks. 

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