The Bank Verification Number (BVN) registration will still go on in
spite of the expiration of the closing date on Saturday, October, 31,
the Central Bank of Nigeria and the Nigerian Inter-bank Settlement
System (NIBSS) said.
The spokesperson of the CBN, Ibrahim Muazu said yesterday that the practice will still go on and the closing date means that any customer that fails to do the registration will have some limit to operate his accounts.
Ibrahim Mu’azu who spoke to a reporter on phone said from today Monday, November 2, 2015, held the exercise as successful, saying that popular banks have captured the BVN of their active accounts except for those customers that choose not to participate in the practice.
He added that : “Deadline was successful because the awareness has been created to millions of customers and the banking hall were empty unlike the June deadline where there were chaos everywhere in the banking halls”
The Managing Director of the Nigerian Inter-Bank Settlement System (NIBSS) Mr Ade Shonubi also told the reporter that the BVN is a nonstop process and that it is the least requirement for Know Your Customer (KYC) as provided by the Central Bank of Nigeria (CBN) and Bankers’ Committee.
He furthermore said: “What the deadline implies is that a customer who has not complied would not have access to his account until he or she complies”
The last time we set the closing date of the Bank Verification Number (BVN) registration exercise (June 30th) set by the Central Bank, there were chaos as the premises of the commercial banks were speechless with customers falling over themselves in a bid to beat the deadline.
The new development helped save the condition as customers were not seen surrounding the banking hall seeking to comply with the Central Bank Directive before the deadline of October 31.
For now, some customers were not able to link their numerous accounts with BVN before the end of the closing date last Saturday, but the CBN said those customers still have chance to do so for them to operate the accounts properly.
Daily Trust surveys exposed that some commercial banks have approved pioneering approach for customers to update their Bank Verification Numbers if such customers have already registered with one of the commercial bank.
Outcome by Daily Trust exposed that most of the commercial banks have organized their online banking platform or a short messaging service platform to get their customers to simply text their BVN numbers for onward registration.
The spokesperson of the CBN, Ibrahim Muazu said yesterday that the practice will still go on and the closing date means that any customer that fails to do the registration will have some limit to operate his accounts.
Ibrahim Mu’azu who spoke to a reporter on phone said from today Monday, November 2, 2015, held the exercise as successful, saying that popular banks have captured the BVN of their active accounts except for those customers that choose not to participate in the practice.
He added that : “Deadline was successful because the awareness has been created to millions of customers and the banking hall were empty unlike the June deadline where there were chaos everywhere in the banking halls”
The Managing Director of the Nigerian Inter-Bank Settlement System (NIBSS) Mr Ade Shonubi also told the reporter that the BVN is a nonstop process and that it is the least requirement for Know Your Customer (KYC) as provided by the Central Bank of Nigeria (CBN) and Bankers’ Committee.
He furthermore said: “What the deadline implies is that a customer who has not complied would not have access to his account until he or she complies”
The last time we set the closing date of the Bank Verification Number (BVN) registration exercise (June 30th) set by the Central Bank, there were chaos as the premises of the commercial banks were speechless with customers falling over themselves in a bid to beat the deadline.
The new development helped save the condition as customers were not seen surrounding the banking hall seeking to comply with the Central Bank Directive before the deadline of October 31.
For now, some customers were not able to link their numerous accounts with BVN before the end of the closing date last Saturday, but the CBN said those customers still have chance to do so for them to operate the accounts properly.
Daily Trust surveys exposed that some commercial banks have approved pioneering approach for customers to update their Bank Verification Numbers if such customers have already registered with one of the commercial bank.
Outcome by Daily Trust exposed that most of the commercial banks have organized their online banking platform or a short messaging service platform to get their customers to simply text their BVN numbers for onward registration.
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