Controversy trails banks’ BVN exercise | Independent Newspapers Limited
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Controversy trails banks’ BVN exercise

Posted: Apr 14, 2015 at 1:29 am   /   by   /   comments (0)

By Bamidele Ogunwusi / Correspondent, Lagos


The ongoing bank verification number (BVN) enrolment, a brainchild of the Central Bank of Nigeria (CBN) and the Bankers’ Committee, a body of banks’ managing directors and CBN, is currently being plagued with complaints by bank customers.

This is coming as the deadline of June this year approaches when all bank customers are expected to have had their BVN.

Bank customers, who spoke to our correspondent in Lagos, narrated several encounters with their banks. They claimed that contrary to the directive given to banks by the CBN that customers with multiple accounts with different banks need only to register with one bank and that the number generated will be communicated with other banks.

However, they claimed that despite having registered with a bank, other respective banks still ask them to register with them.

A customer, Olusegun Olukunle, who spoke to Daily Independent, said he was shocked when his other bank asked him to register again for the BVN but he declined because of what was contained in the CBN directive to only register with one bank.

“I was shocked when I got to one of my banks (names withheld) only to be told that I have to register again for the BVN after I have shown evidence of registration with another bank. What is happening is not what we were told and we want the CBN to let us know what is happening”, Olukunle stated.

Others who spoke to our correspondent said though the process of registration was smooth but the non acceptance of the numbers by other banks negate the idea of the project.

Managing Director of City Bank, Umar Afeez said the Bankers’ Committee is aware of the complaints by customers and that they are on top of the situation. He urged Nigerians who have not gotten their BVN pin to do so as they will not be able to access funds from banks without it going forward.

Meanwhile, bank customers who have done the mandatory biometric registration at any bank branch will start collecting their Bank Verification Number cards very soon.

The Managing Director, Nigeria Interbank Settlement System Plc, Mr. Ade Shonubi, who stated this in Lagos said no bank customers would be charged for the cards and that lenders would soon begin the distribution of the BVN cards.