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| CBN |
The Central Bank of Nigeria (CBN) yesterday extended the deadline for Bank Verification Number (BVN) registration for Nigerians in the Diaspora till December 31, this year.
The exercise, previously meant to end in June 30 this year, was extended to ensure that all Nigerian bank customers in the Diaspora are enrolled.
In a circular to all banks, CBN Director, Banking and Payments System Department, โDipo Fatokun, said the extension followed observations by the CBN showing the low percentage of registration of Nigeria banksโ customers in the Diaspora.
The BVN registration involves capturing of customersโ physiological or behavioral attributes โ fingerprints and signatures, among others.
The extension, he said, may be attributed to lack of accessibility to registration centres and unavailability of registration centres in some cities where Nigerian population is high.
โFrom January 2017, all Nigerian bank customers in the Diaspora should have the BVN attached to their accounts. Any bank customer without the BVN will be deemed to have inadequate Know Your Customer and such account will be operated as a โno customer initiated debit until the BVN registration is done,โ he said in a statement.
