The Central Bank of Nigeria (CBN) has announced further extension of Bank Verification Number (BVN) registration deadline to December 31, 2016 for Nigerians in the Diaspora.
The BVN registration which involves capturing of customers’ physiological or behavioral attributes – fingerprint, signature among others has commenced in some banks’ headquarters and branches across the country and for Nigerian bank customers living abroad.
Director of Banking & Payments Department, Dipo Fatokun, in a circular on the apex bank’s website, said the extension is to ensure that all Nigerian bank customers in the diaspora are given opportunity to enrol.
According to him, by January 1, 2017, all Nigerian bank customers in diaspora should have their BVN attached to their accounts.
“Any bank customer without the BVN will be deemed to have “inadequate KYC” and such account will be operated as “No Customer Initiated Debit,” until the account holder obtains and attaches a BVN to the account,” Fatokun said.
This means that such customers would not be able to withdraw from their accounts. However, such accounts would still attract deposits.
The deadline was initially extended from January 31 to June 30, this year.
The extension followed observations by the CBN showing the low percentage of registration of Nigerian banks’ customers in the Diaspora, which is still not addressed.
The CBN registration guidelines provided by the CBN for clients in Diaspora show that BVN enrolment can be done at offshore branches of any Nigerian bank and through the service centres of the two service providers, Online Integrated Solutions (OIS) and VFS Global, the apex bank engaged.
The centres provided to further drive enrolment are: London, Leicester and Manchester in the United Kingdom; Dubai; Johannesburg and Cape Town in South Africa; Kuala Lumpur, Malaysia; Beijing, Shanghai and Guangzhou in China; Jeddah, Riyadh and Al Khobar in Saudi Arabia; Atlanta, Houston, San Francisco and Los Angeles in the US. Others are: Toronto and Vancouver in Canada; Paris, France; Rome, Italy; Sao Paulo, Brazil; Ankara, Turkey; Kiev, Ukraine; New Delhi, India; Moscow, Russia; Brisbane, Melbourne, Perth and Sydney in Australia
Aside China and India, the Nigeria Interbank Settlement System (NIBSS) is also working on extending the BVN project to Washington DC, Johannesburg, and Atlanta. Other cities participating in the scheme are Guangzhou, London, Leicester, Houston and New York City.
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