In line with the Central Bank of Nigeria’s, CBN, directives on Bank Verification Number, BVN, commercial banks in the Federal capital territory, FCT, have commenced restricting defaulting customers from embarking on financial transactions, following failure to comply with the deadline of October 31.
A bank official with Fidelity Bank PLC at the federal secretariat, Abuja, who preferred anonymity, said all accounts without BVN have been frozen and barred from carrying out bank debit transactions in compliance with CBN directives to all commercial banks operating in the country.
When Nigerian Pilot visited First Bank PLC, located at the Central Business District, Garki, a female banker who spoke on the basis of anonymity, said as at November 1, (yesterday), “all accounts in our bank without BVN had been frozen and the owners of such accounts duly notified”.
The female banker added, “At the moment, any customer whose account is frozen cannot make use of any bank services, even the ATM cards will not function’’.
Another official at Diamond bank, also at the federal secretariat, who also preferred anonymity, said that the frozen accounts would be reactivated when the customer completes the BVN registration.
He said, customers, who already have accounts, but without the BVN, must register before they can operate their accounts, either withdrawals or deposits.
Also, at another bank in zone 3, an official of the bank said it had barred unregistered account holders from debit transactions, and messages have been sent to them to embark on their BVN registration before the accounts can be activated.
He said, “those that have done theirs with others banks should go to the bank’s link online as directed and submit their BVN as it is more convenient, and a message would be sent to them if is successful”.
A customer, Mrs. Adeola Adeyemi who said she was in the bank because she could not make withdrawals was told her account had been frozen in line with CBN directives of 31, October deadline.
She was however told to enroll for the BVN registration and her account would be activated.
It would be recalled that the CBN in collaboration with all banks in Nigeria, had on Feb.14, 2014 launched the BVN, a centralised biometric identification system for the banking industry.
It aims at addressing issues of identity theft, fraud, helps to fish out blacklisted customers, reduces queues in banking halls and standardises efficiency of banking operations.
The CBN also said the BVN exercise was to encourage banks to grant loans to Micro, Small and Medium Enterprises, MSME, and students in the country.
The deadline for the registration was July 31 before it was extended to Oct. 31, and the CBN directed that the deadline should not be extended.
Some of the banks visited were Fidelity bank PLC, Diamond bank, First Bank of Nigeria PLC, Zenith Bank and Union Bank.

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