BVN: No Extension Of Registration Deadline, Says CBN 


The Central Bank of Nigeria (CBN) on Wednesday said there will be no extension of the October 31 deadline for bank customers’ registration for the Bank Verification Number (BVN) exercise.

The Street Journal recalls that the apex bank had in 2014 introduced the BVN

as a measure aimed at chekmating fraud in the banking industry, as well as
ease the verification of account holders in banks.

CBN’s Director of Banking and Payment System Department, Mr Dipo Fatokun, reiterated the apex bank’s position while briefing newsmen in Abuja on Wednesday.


Fatokun said: “Last week Friday the bankers communicated that there is no extension on the BVN, so if you have not registered go and register and of course submit your BVN to your bank, no extension on the deadline of October 31.

“By November 1 if you don’t have a BVN you won’t be able to operate your account, but that does not mean that your money will be confiscated as some people have said.

“No, what it means is that you should go and do your BVN, once you do your BVN and you link it to your account, you continue to operate your account.’’

Author: News Editor

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