As the October 31st deadline for the Bank Verification Number registration draws nearer, the Central Bank of Nigeria has warned that it will not be extending the deadline for the registration exercise.
The apex bank has said that 32 million active bank accounts are yet to be enrolled on the Biometric Verification Number (BVN). In a statement in Abuja weekend, Alhaji Mu’azu Ibrahim, CBN Director, Corporate Communications, said CBN was concerned by the number of account owners yet to enroll, considering that the exercise would end by October 31.
CBN in collaboration with all banks in Nigeria on February 14, 2014, launched the BVN, which is a centralized bio-metric identification system for the banking industry. It aims at addressing issues of identity theft and fraud and will help to discover blacklisted customers, reduce queues in banking halls and standardize efficiency of banking operations.
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