No Extension Of Deadline For BVN Registration – CBN Warns

Nigerian Apex Bank, CBN has made it clear that there would not be further extension when the October 31, 2015 deadline for the bank verification, BVN elapses.Meaning, any bank customer without the BVN linked accounts may risk being restricted from normal operations of their accounts or free access to their bank account balances by the end of next month.Statistically, it was learnt that the BVN registration exercise showed with about 52 million active bank accounts in various banks, total enrolment stood at about 20 million, out of which about 14 million accounts have been linked to the BVN as at September, 2015.

It emphasised in a statement at the weekend that BVN is now mandatory requirement for opening new bank accounts, adding that those to be affected by the restrictions are customers whose accounts were opened prior to the commencement of the BVN scheme.