Even with the last-minute rush experienced in June and the extension to October, 32 million customers are yet to get their Bank Verification Number BVN.
Reports have it that about 32 million customers are yet to get their Bank Verification Number BVN. This is quite disturbing because the Central Bank of Nigeria CBN has stated October 31, less than five weeks from now, as the deadline.
This figure was released by the Nigerian Interbank Settlement System Plc NIBSS. Data obtained from the Central Bank of Nigeria and the NIBSS on Sunday showed that out of about 52 million active accounts owned by adults and children in the various banks, the total enrolment for the BVN stood at about 20 million.
According to the statistics, out of the 20 million registered bank customers, only about 14 million accounts have been linked to the BVN as of September 2015.
The CBN had, in collaboration with the Bankers’ Committee, introduced the BVN on February 14, 2014.
The BVN is aimed at ensuring a unique identity for every bank customer and other users of financial services in the country through the use of customers’ biometrics as a means of identification.
The Nigerian apex bank formerly gave June 30, 2015 as the deadline for bank customers to register and obtain their BVN. But the bank extended it to October 31 to enable all customers to obtain their BVN.
However, findings have revealed that after the initial rush between the end of June and July 2015, there had was a steady decline in new BVN enrolment figure for August and September.
With this development, there are indications that the last-minute rush experienced at various banking halls in June will be repeated if more customers fail to register over the next two to three weeks.