Sources within the Department of State Security (DSS) have revealed that the implemented Bank Verification Number (BVN) was responsible for its operative to trace several millions to alleged corrupt judges who are currently in its custody.
Recall that seven judges- Justice Inyang Okoro and Sylvester Ngwuta of the Supreme Court; Adeniyi Ademola of the Federal High Court, Abuja; Kabir Auta of the Kano High Court; Muazu Pindiga of Gombe High Court, Mohammed Tsamiya of the Court of Appeal in Ilorin, and […]
The Central Bank of Nigeria plans to extend the Bank Verification Number registration project to customers of other Financial Institutions.
This was revealed by the CBN’s Director of Banking and Payment Systems Department, Dipo Fatokun. The OFIs are Microfinance Banks, Primary Mortgage Institutions and others.
Fatokun made the disclosure at a bi-monthly forum organised by the Finance Correspondents Association of Nigeria in Lagos on Sunday. The forum had as its theme: “Recent Developments in the Electronic Payments System and Implications for Consumers of Electronic […]
According to reports, the Ogun State Government has said it would commence payment of workers’ salaries with the Bank Verification Number (BVN) starting from April.
The State Government on Friday, said that the plan would allow government have a grip on the number of workers in its pay roll. The decision was part of the fall-out of a meeting with the state’s labour leaders which was aimed at finding an amicable resolution to some of the contentious issue which led to an […]
SEE What BVN Policy has exposed on many Nigerians – exposes fake certificate, multiple dates of birth etc … See more
An official of one of the leading banks said on Friday that the Bank Verification Number (BVN) policy of the CBN had exposed many Nigerians parading fake certificates and multiple dates of birth.
The official, who spoke anonymously, said in Lagos that some of the challenges encountered in withdrawals by some customers were due to this anomaly.
According to him, some customers who complained of difficulties in accessing their accounts, either had multiple dates of birth on their credentials or are using […]
Konga.com, an online marketplace has introduced the bank verification number, BVN as part of its authentication process for online payment in its recently introduced e-payment platform, KongaPay. In order to make online transaction more secure, KongaPay utilises One Time Password, OTP culled from the user’s bank verification number (BVN) to authenticate transactions.
This makes KongaPay the first non-banking e-payment solution to link BVN to its process through its partnership with the Nigeria Interbank Settlement System, NIBSS. Speaking to journalists recently in […]
Since the beginning of the week, there has been controversy about Bank Verification Numbers (BVN) in Nigerian banks.
Many account holders have not been able to withdraw from their accounts because their BVNs have not been linked with their accounts. Latest reports say scammers are using the opportunity to rip off many Nigerians of their hard earned money.
ALF shared an eye-opening experience he had, which even the most cautious person may even fall for! Read his experience below:
“Please read this carefully, […]
The Central Bank of Nigeria (CBN) has extended the timeline for Nigerian bank customers in the Diaspora to enroll for their Bank Verification Numbers (BVN) to January 31, 2016.
This is contained in statement by the Bank’s Director, Corporate Communications, Mr Ibrahim Mu’azu, on Monday in Abuja.
It explained that the extension was to enable the customers in Diaspora to complete the enrollment as well as link the BVN to their respective accounts.
It stated that the extension was only for customers in […]
There are strong indications that depositors in Nigerian banks will still have the opportunity of having access to their accounts after the deadline of the registration for the Bank Verification Numbers (BVN).
The deadline given by the Central Bank of Nigeria (CBN) ended Saturday, 31 October and there have been fears that depositors may lose their accounts for not meeting up with the deadline.
However, an email sent across to its customers early on Monday by GT Bank shows that though the […]
Following the expiration of the October 31st deadline for the registration for Bank Verification Number, the Central Bank of Nigeria has announced that the process will still be ongoing. BVN registration continues.
Speaking to newsmen yesterday, CBN spokesman Ibrahim Muazu said the deadline was just to achieve a primary aim of creating more awareness about the exercise.
“Deadline was successful because the awareness has been created to millions of customers and the banking hall were empty unlike the June deadline where there […]
Chairman of BCAN, Dr. Uju Ogubunka, told Newsmen yesterday that the association was meeting this week to, among other things, marshal out course of action to protect customers’ right to full and unrestricted access to their account, irrespective of their BVN status.
Several banks had sent out messages to their customers last week warning that access to their accounts would be barred unless they were BVN compliant by October 31.
Spokesman for Central Bank of Nigeria, CBN, Ibrahim Muazu, told Vanguard yesterday […]
The Central Bank of Nigeria, CBN, has said no extension would be granted after the deadline expires and customers who still haven’t registered will have no access to their money or any transaction in their account.
With less than 1 day to the deadline for Bank Verification Number, BVN, about 26 million account holders still haven’t registered to protect their money.
According to CBN, the registration window will still be open after tomorrow, but unregistered customers will not be granted access to […]