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CBN Demands List of Accounts Without BVN from Banks

Comms Week13 Nov 20170 Comments
CBN Demands List of Accounts Without BVN from Banks
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Central Bank of Nigeria (CBN) has written a letter to the Deposit Money Banks in the country, asking them to submit list of customers and bank accounts without Bank Verification Number (BVN).  …

Central Bank of Nigeria (CBN) has written a letter to the Deposit Money Banks in the country, asking them to submit list of customers and bank accounts without Bank Verification Number (BVN).

The letter came after a Federal High Court in Abuja ordered the CBN and 19 banks to freeze accounts without the BVN.

The banks also received an interim order seeking the forfeiture of deposits in affected accounts.

A good number of the commercial banks, if not all, have complied with the directive from the CBN, according to top bank officials, who spoke under the condition of anonymity because they were not authorised to speak on the matter.

Shortly after the November 3 deadline given by the court, commercial banks had started the compilation of bank accounts without the BVN.

However, the banks are also lobbying the Office of the Attorney General of the Federation to back down on the plan by the Federal Government.

A Federal High Court in Abuja had on October 17 ordered the forfeiture of all monies in bank accounts owned by corporate organisations, government agencies and individuals without the BVN.

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