All account holders without BVN will cease to have full access to their accounts as the CBN vows to deactivate them today.
It is now certain that bank customers that are unable to obtain their bank verification numbers (BVNs) before the close of business this Friday would not be able to operate such accounts as the Central Bank of Nigeria (CBN) has ruled out another extension of the deadline, which expires this Friday.
The Deputy Director, Consumer Protection Department at the CBN, Mrs. Khadija Kasim, has urged those yet to be captured to do so before the deadline expires as the measure taken after that will be drastic.
“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 you are registered for the exercise,” Kasim appealed.
It will be recalled that the Central Bank of Nigeria (CBN), in collaboration with the Bankers’ Committee had introduced the BVN on February 14, 2014. The initiative was aimed at ensuring unique identity for all bank customers and other users of financial services in the country by the use of the customers’ biometrics as means of identification.
Data from the Nigeria Interbank Settlement System Plc (NIBSS), showed that 20,833,635 bank customers had enrolled as at October 25, 2015.