CBN: BVN, cash­less pol­icy take tolls on money laun­der­ers

Daily Trust - - FRONT PAGE - From Dele Ogun­yemi, Ibadan

The Cen­tral Bank of Nige­ria (CBN) has re­vealed that the Bank Ver­i­fi­ca­tion Num­ber­ing (BVN) and cash­less pol­icy in­tro­duced into the coun­try’s mone­tary sys­tem have started tak­ing tolls on money laun­der­ers, just as the apex bank urged bank cus­tomers who are yet to log into the BVN sys­tem to do so be­fore the ex­pi­ra­tion date, which is the end of this month.

A team of the CBN, led by the Deputy Di­rec­tor, Con­sumer Pro­tec­tion, Mrs. Khadi­jah Kasim vis­ited Ibadan, the Oyo State cap­i­tal on Thurs­day on an en­light­en­ment cam­paign dur­ing which the peo­ple of the state were fur­ther ed­u­cated on the ben­e­fits deriv­able from the cash­less pol­icy and the need for the cit­i­zenry to fully em­brace the elec­tronic pay­ment.

While dis­clos­ing that the cash­less pol­icy had suc­ceeded tremen­dously in check­mat­ing fraud­u­lent ac­tiv­i­ties in the sys­tem, the CBN Deputy Di­rec­tor re­marked that “the bio­met­rics pro­vided have been mak­ing it dif­fi­cult for im­per­son­ation whereby face­less peo­ple are en­gaged in money laun­der­ing, while other un­eth­i­cal trans­ac­tions are also be­ing re­duced to the barest min­i­mum.”

On the BVN ex­er­cise, Mrs Kasim en­joined Nige­ri­ans who are yet to com­ply to “take ad­van­tage of the few days re­main­ing to per­fect their reg­is­tra­tion.”

Her words: “The dead­line was ini­tially June 30. It was ex­tended to the end of Oc­to­ber. By now, we ex­pect all Nige­ri­ans to have reg­is­tered be­fore the ex­pi­ra­tion date and en­sure that they get their BVN. Nige­ri­ans should take ad­van­tage of the few days re­main­ing to per­fect their BVN reg­is­tra­tion.”

Speak­ing ear­lier in a pre­sen­ta­tion en­ti­tled “Pay­ments Sys­tem: Cash­less Nige­ria and Con­sumer Pro­tec­tion”, an­other of­fi­cial of the CBN, Mr. Caleb Orji dis­closed that the apex bank would soon come up with ini­tia­tives for the vis­i­bly im­paired per­sons to en­able them op­er­ate their bank ac­counts ef­fec­tively.

In an­other pre­sen­ta­tion on “Rights and Du­ties of Bank Cus­tomers”, an­other CBN of­fi­cial, Mr. Damola Atanda warned Nige­ri­ans to be safety con­scious in the han­dling of their bank doc­u­ments, in­clud­ing the ATM cards since, ac­cord­ing to him, “un­scrupu­lous peo­ple have started us­ing other peo­ples ac­counts to per­pe­trate fraud­u­lent ac­tiv­i­ties.”

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