BVN: Banks reg­is­tered 20.8m cus­tomers

Daily Trust - - BUSINESS - By Hamisu Muham­mad

Cur­rent statis­tics from the Nige­ria In­ter-Bank Set­tle­ment Sys­tem Plc (NIBSS) show that 20,833,635 bank cus­tomers have en­rolled for Bank Ver­i­fi­ca­tion Num­ber (BVN) as at Oc­to­ber 25, 2015, the Cen­tral Bank of Nige­ria has said.

The CBN said state­ment that in a given the tra­di­tion of mul­ti­ple ac­counts hold­ing by an av­er­age Nige­rian, which could be con­ser­va­tively es­ti­mated at about 2 or 3 per an ac­count holder, there­fore, it could be safely as­sumed that over 40 mil­lion ac­counts might have been en­rolled to BVN.

“While it can be said that some sub­stan­tial ef­forts have been made in terms of en­roll­ment and suc­cesses recorded, what is left there­fore, is for the re­main­ing ac­count hold­ers to get their ac­counts linked to BVN.”

The CBN said, if any­one has not en­rolled for BVN, it can­not be at­trib­uted to lack of fa­cil­i­ties, but out of his/ her in­di­vid­ual vo­li­tion. By all in­di­ca­tions, it can be safely said that the BNV ex­er­cise by the Bankers’ Com­mit­tee in col­lab­o­ra­tion with the CBN has proved rather suc­cess­ful.

The Cen­tral Bank of Nige­ria (CBN), in col­lab­o­ra­tion with the Bankers’ Com­mit­tee, in­tro­duced the Bank Ver­i­fi­ca­tion Num­ber (BVN) on Fe­bru­ary 14, 2014. This ini­tia­tive of the Bankers’ Com­mit­tee is aimed at en­sur­ing unique iden­tity for all bank cus­tomers and other users of financial ser­vices in the coun­try by the use of the cus­tomers’ bio­met­rics as means of iden­ti­fi­ca­tion.

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