The Central Bank of Nigeria (CBN), has revealed that over 19 million bank customers have been registered under the ongoing Bank Verification Number (BVN) excersise taking place in all banks across the country.
The CBN stated this through its Director, Banking and Payment System, Dipo Fatokun.
He made an appeal to all bank users to register and get their BVN before the October 31, 2015 deadline, saying the apex bank will be strict with the deadline.
“Over 19 million bank customers have been issued BVN. What we are doing now is to move round the banks to see how they are doing and those that are complying.
“The campaign from the CBN is that Nigerians should go and enrol for the BVN, that is why we are going to be very strict with the deadline.
“Please, bank customers don’t have to wait till October 31. By beginning of October, it will be 30 days left to the deadline and those that don’t enrol will not be allowed access to their accounts.
“When we get to the cut-off date, any account that does not have BVN cannot receive or take out money. So, if you are a fraudster and you try to transfer money into an account that doesn’t have BVN, the system will reject it.
“Now, if you are a fraudster and you transfer money into an account that has BVN, then we know you. It is going to engender transparency in the banking industry,” Fatokun added.

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