CBN Approves January 31 As BVN Enrollment Deadline For Nigerians In Diaspora

The Central Bank of Nigeria, CBN on Monday said that Nigerian bank customers in the diaspora have up to January 31, 2016 to enroll for their Bank Verification Numbers and link them with their accounts.

The apex bank's Director, Corporate Communications, Alh Ibrahim Muazu who made the announcement in a statement urged money deposit banks to ensure that the extension was utilized by the target customers.
The statement also expressed the apex bank's satisfaction with the implementation of the BVN project.

“The CBN has also expressed satisfaction with the progress made in the implementation of the BVN project, especially for accounts operated by residents of Nigeria.

“However, with the expiration of the October 31 enrollment deadline, the CBN has directed that bank accounts of Nigeria residents without the BVN would henceforth be operated as ‘No customer initiated debit’ account, until the account holders obtain and attach BVNs to the accounts.

“This means that a customer may not be allowed to withdraw money from his or her account until the BVN has been acquired and linked to the account,” it said.