Wednesday, 7 October 2015

October 31 Deadline For Bank Verification Number Remains

The Central Bank of Nigeria has declared that the October 31 deadline for bank customers to obtain their Bank Verification Numbers, BVN will not be extended.

The apex bank's Director, Banking and Payment System Department (BPSD), Mr Dipo Fatokun said this while speaking to journalists on Wednesday in Abuja.

He said that bank customers who failed to obtain their BVN at the end of the deadline would not be able to access their accounts.

He said ;
“Last week Friday the bankers communicated that there is no extension on the BVN.

“If you have not registered go and register and of course submit your BVN to your bank, no extension on the deadline of October 31.

“By November 1 if you don’t have a BVN you won’t be able to operate your account, but that does not mean that your money will be confiscated as some people have said.

“No, what it means is that you should go and do your BVN, Once you do your BVN and you link it to your account, you continue to operate your account."

BVN is a unique identity number that is verifiable across the entire banking industry. It was inaugurated in February 2014 to protect customers’ accounts from unauthorized access to reduce the incidences of theft and exposure to fraud.

NAN

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