BVN TENSION!!! CBN EXTENDS BVN ENROLMEMNT TO
MICROFINANCE BANKS...
The Central Bank of Nigeria, CBN,
has said that with effect from January 1, 2018, all customers without Bank
Verification Number, BVN, linked to their account should no longer be entitled
to debit operations.
CBN also extended the BVN enrolment
for Microfinance Banks and other financial institutions to December 31, 2017.
Director, Financial Institutions
Supervision Department, Mrs. Tokunbo Martins, in a statement, said the bank
extended the deadline after appeals from various bodies.
Martins said: “As you are aware, the
deadline expired July 31, 2017 and consequently several OFIs are in breach of
this regulatory directive.
“However, due to the conscientious
efforts noted, the CBN is disposed to acceding to the appeals received from the
Financial Inclusion Secretariat, the National Association of Microfinance Banks
(NAMB) and members of Mortgage Bankers’ Association of Nigeria (MB AN)
soliciting for a shift in the deadline to support better compliance and avoid
further financial exclusion.
“The various challenges encountered
in the early stage of deployment of the joint CBN/NIBSS support to members of
NAMB have also informed management’s decision
“In this regard, management has
approved an extension of the timeline to December 31, 2017, to enable all OFIs
continue with the BVN enrolment exercise and report progress.”
Written and edited by Christian Rowland,
To Advertise you can contact us
Email: [email protected]Phone 07068107427
Rowland Gate Media Editorial World.
Please What Are Your Comments?
BVN TENSION!!! CBN EXTENDS BVN ENROLMEMNT TO MICROFINANCE BANKS...
Reviewed by RowlandGate
on
Monday, August 07, 2017
Rating:

No comments: