All Those With BVN Registeration Issues, We’ve Got Goodnews For You

The Central Bank of Nigeria (CBN) has concluded plans to extend the BVN registration deadline in order to accommodate customers of micro finance banks, primary mortgage institutions and other financial institutions.

The CBN’s director, banking and payment systems department, Dipo Fatokun disclosed this to journalists in Lagos recently.

According to Fatokun, the CBN was considering having the customers of such other financial institutions enroll for the BVN through deposit money banks, because of the high cost of procuring the machines.

We also expected that many of the other financial institutions customers, who already have their BVNs will supply the data to their banks, while others without BVN will register afresh.I want to assure you that the BVN has assisted us a lot in the banking system. It has assisted us to check frauds, and we are working on a framework, that will enable us if not to blacklist customers, because of some legal implications, but at least to watch-list a customer that is identified to have been fraudulent, or have done what he is not supposed to do across the banking sector.