CBN extends BVN enrolment for Diaspora bank customers

The Central Bank of Nigeria (CBN) has extended the timeline for Nigerian bank customers in the Diaspora to enrol for their Bank Verification Numbers (BVN) to January 31, 2016.

A statement made, Monday, in Abuja by the Bank’s Director, Corporate Communications, Alhaji Ibrahim Mu’azu, explained that the extension was to enable the customers in the Diaspora complete the enrolment exercise as well as link the BVN with their respective accounts.

While emphasising that the extension was only for customers in the Diaspora, the statement advised Deposit Money Banks (DMBs) to ensure that the exemption was utilised by the targeted group.

The apex bank expressed satisfaction with the progress made in the implementation of the BVN project, especially for accounts operated by residents of Nigeria.

CBN had issued a statement stipulating that any bank customer without the BVN by October 31, 2015, would be deemed to have inadequate Know Your Customer (KYC) requirements.