- The CBN has extended its BVN registration exercise from June 30th to October 31, 2015.
- The CBN in a circular claimed it extended the deadline because it has elicited tremendous interest from the Nigerian bank customers who crowded the banking halls in order to beat the deadline.
- The CBN however failed to admit the pains and inconvenience it had subjected a lot of Nigerians to and giving the impression that the exercise will end June 30, even though it perhaps new it was going to extend it.
- The BVN, a central bank initiative, which was launched in February 2014, is being supported by the bankers’ committee.
- The CBN claimed the exercise is aimed at protecting bank customers and further strengthening the Nigerian banking system.
- It was among other things, introduced to address safety of customers’ funds, avoid losses through compromise of personal identification numbers and other criminal activities in the industry.
- The BVN is a unique number that enables one person to have a single identity in the banking system. It basically ensures that a customer’s identity is not stolen.
- A customer is only expected to register at one bank, irrespective of the number of accounts he has.
- CBN Circular
Why CBN extended BVN registration deadline
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