The Central Bank of Nigeria, CBN, and the Nigerian Inter-bank Settlement System, NIBSS, have disclosed that the Bank Verification Number, BVN, exercise will still continue despite the October 31 deadline elapsing.
According to CBN Spokesperson Ibrahim Muazu, the process will still go on as the deadline only signifies that any customers who failed to do the registration will have some restriction to operate his accounts.
He added that from Monday, November 2, registration will continue for those who were not captured in the initial process.
“Deadline was successful because the awareness has been created to millions of customers and the banking halls were empty unlike the June deadline where there was chaos everywhere in the banking halls.”
Managing Director, NIBSS, Ade Shonubi while reacting to the deadline said it was a continuous process and the minimum requirement for Know Your Customer, KYC, as provided by the CBN and Bankers’ Committee.
“What the deadline implies is that a customer who has not complied would not have access to his account until he or she complies.”
In the previous deadline, June 30, pandemonium broke out as many Nigerians were not comfortable with the deadline which made the apex bank to further extend the deadline by 3 month.
According to CBN, the extension helped to salvage the situation where customers massively besieged the banking hall seeking to comply with the October 31 directive.
Despite the extension, Post Nigeria’s correspondent gathered that some customers were not able to link their various accounts with the BVNs before the end of the deadline although people were not seen clogging the bank halls.
Some commercial banks on the other hand adopted an electronic means of linking banks accounts to their various account holders through an SMS update mechanism. In this, customers to simply need to text their BVNs for onward registration.
No comments:
Post a Comment