BVN: CBN extends enrolment for Diaspora bank customers

The Central Bank of Nigeria, CBN, has extended the deadline for Nigerian bank customers in the Diaspora to undertake their Bank Verification Numbers, BVN, to January 31, 2016.

According to a statement by the CBN’s Director, Corporate Communications, Alhaji Ibrahim Mu’azu, the extension was to enable the customers in the Diaspora complete the enrolment exercise, as well as, link the BVN with their respective accounts.

He stressed that the extension was only for customers in the Diaspora.

Meanwhile, the CBN, had stressed that withdrawals remain prohibited until the holders of such accounts (resident in Nigeria) register accordingly.

“They won’t lose their deposits. With the expiration of the October 31 enrolment deadline, the CBN has directed that bank accounts of Nigeria residents without the BVN would henceforth be operated as ‘No Customer Initiated Debit’ account, until the account holders obtain and attach BVNs to the accounts. This means that a customer may not be allowed to withdraw money from his or her account until the BVN has been acquired and linked to the account,” the bank said.

Vanguard