With the October 31 deadline set by the Central Bank of Nigeria, CBN, for all bank customers in the country to be registered under the Bank Verification Number, BVN, the apex bank yesterday called on all bank customers yet to be captured to do so, warning that there would not be another extension.
It will be recalled that the BVN exercise which had been on for over six months initially ended on July 30th, but was extended by additional three months following calls from many bank customers who could not register within the period
The CBN Deputy Director, Consumer Protection Department, Hajia Khadija Kasim, who addressed stakeholders at a one-day sensitisation fair in Ibadan, appealed to those yet to be captured under the exercise to ensure they do not miss out on the re-scheduled deadline, stating that there is no need for people to wait until the last day before they go for the registration
She said the BVN coupled with the cashless policy will go a long way to help the apex bank and other banks in the country tackle the issue of money laundering She said, “The initial deadline was June 30th before we extended it to end of October.
By now, we expect all Nigerians to go to their banks before the expiration date and get their Bank Verification Number. Nigerians should come out and ensure that within the few days left for the exercise, they are registered.
While explaining how the cashless policy and biometric registration will help check money laundering and fraudulent transactions in the banking sector, she assured that the two policies which goes handin- hand will help make the identity of money launderers and fraud perpetrators easier to be detected.
She lauded the cashless policy which has gone full scale all over the country, stating that people are now getting well enlightened on the need not to carry cash about, but using electronic platforms to do their business transactions anywhere within and around the country.
She said: “We started the cashless policy in areas that have large volume of money transaction, but now it has been extended to all part of the country and our people are now getting better enlightened by the day”.
According to her, the CBN fair organised for stakeholders is part of the efforts of the apex bank to educate and enlighten members of the public on the activities of the bank.
The fair had in attendance farmers, government officials, representatives and members of different cooperative societies, deposit money bankers, micro-finance operators, physically challenged people who are willing to start small and medium scale businesses and representatives of the student community.
Policy issues bothering on Payment System Vision,PSV, 2020, mobile payments, agent banking, e-payment incentive schemes, BVN and cashless Nigeria were discussed by resource persons from the different departments of the apex bank.
