The Central Bank of Nigeria (CBN) on Thursday called on all bank customers, who are yet to register for their Bank Verification Number (BVN) to do so before the expiration of the deadline.
With just six days to the October deadline set by the apex bank, it said it will no longer extend the deadline after the October date.

The BVN exercise which had been on for over six months initially ended on July 30th, 2015 but was extended by an additional three months following calls from many bank customers who could not register within the period.

Appealing to those not yet captured under the scheme to ensure they don’t miss out on the re-scheduled deadline, the apex bank said there is no need for people to wait until the last day before they go for the registration.

Hajia Khadija Kasim, Deputy Director, Consumer Protection Department, while addressing stakeholders at a one-day CBN sensitisation fair in Ibadan, 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 in the country.

“The initial deadline was June 30th before we extended it to end of October. By now we expect all Nigerians to go before the expiration date and get their Bank Verification Number. Please Nigerians, come out and ensure that within the few days left for the registration, you are registered for the exercise, she said.

Explaining how the cashless policy and biometric registration will help check money laundering and fraudulent transactions in the banking sector, the deputy director assures that the two policies which goes hand-in-hand will help make the identity of money launders and or fraud perpetrators easier to nab.

“You will see some interrelationship between our cashless policy and the need for us to have our bio-metrics. When you are now registered as a bank customer and your details are there, it will be very difficult for somebody to use that account for any fraudulent activities.
“So, if any fraudulent activities take place there, we will be able to trace the owner of the account. The situation where we have faceless people carrying out money laundering or fraudulent transactions will be reduced to the barest minimal”, the deputy director explained.

Commending the cashless policy which has gone full scale all over the country, the deputy director, said 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 a large volume of money transaction, but now it has been extended to all over the country and our people are now getting better enlightened by the day” adding that the CBN fair organised for the stakeholders is part of the efforts of the apex bank to educate and enlighten members of the public on the activities of the apex bank.

The event which held at the Jogor centre Ibadan 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 Scales business, SMEs operators, representatives of the student community and the general public.
Policy issues bothering payment system vision (PSV 2020), mobile payments, agent banking, E-payment incentive schemes, BVN and cashless Nigeria were discussed among by resource persons from the different department of the apex bank while the attendees also had their questions answered.

In a presentation entitled “Payments System: Cashless Nigeria and Consumer Protection”, another official of the CBN, Mr. Caleb Orji disclosed that the apex Bank would soon come up with initiatives for the visibly impaired persons to enable them operate their bank accounts effectively.
In another presentation on Rights and Duties of Bank Customers, another CBN official, Mr. Damola Atanda warned Nigerians to be safety conscious in the handling of their bank documents, including the ATM cards since, according to him, “unscrupulous people have started using other peoples accounts to perpetrate fraudulent activities”.

http://thenationonlineng.net/cbn-maintains-bvn-deadline/

Start sending my birthday gifts to avoid late rush.

The last time it was postponed was wen I received my salary, rushed to d ATM before 6 pm to avoid my money being trapped. I just collected everything there sharply

FTC tinz

Start sending my birthday gifts to avoid late rush.

The last time it was postponed was wen I received my salary, rushed to d ATM before 6 pm to avoid my money being trapped. I just collected everything there sharply.

Register before politicians start using ur accounts to siphon money. Be protected.

FTC tinz