August 1, Deadline For Accounts Without BVN - CBN

The Central Bank of Nigeria, CBN, says all customer accounts not linked with a Bank verification number, (BVN), will not be accessible  for withdrawals as from August 1.


The apex bank in a letter to All Other Financial Institutions, OFIs, by its Director, OFIs Department, Mrs Tokunbo Martins, requested that all OFIs  are required to enrol all their customers on or before July 31, 2017 and notices sensitizing customers, should be conspicuously displayed in banking halls; ensure that all new customers have BVN.

The letter also stated that it has become necessary to extend the BVN registration because some OFIs are located in the rural areas and may have customers that are yet to enrol.

The statement reads in part, "The BVN is expected to minimise the incidence of fraud and money laundering in the financial systems as well as enhance financial inclusion."