The fight against corruption in Nigeria is becoming more systematic and quite a few bank customers could be caught in it inadvertently.

The recent Central Bank of Nigeria (CBN) regulatory framework for Bank Verification Number (BVN) operations and watchlist for the Nigerian banking industry mandates financial institutions to apply restrictions on accounts and BVNs associated with fraudulent activities.

As a result banks and other financial institutions have been mandated to report such activities to law enforcement agencies. Some banks have started updating their terms and conditions for opening and using accounts with them to reflect these changes and give them legal cover should they need to take action against some customers.

It is also possible to lose access to multiple accounts in different banks based on one of your accounts being frozen or flagged for fraud. The BVN simply links the other accounts to fraud and you may be liable to lose access to them.

While some parts of the regulations are not new, the effect of the new directive is that you could lose access to your account and your money based on the suspicion of fraud, not necessarily with concrete evidence. Therefore you need to be a lot more careful about your banking transactions and how you conduct business to avoid being negatively affected by the new regulations.



Source: http://www.opinions.ng/lose-access-money-nigerian-banks/

Noted

only fraudsters will panic.

I Received this message from my bank sometime last year. I did a lot of foreign transaction in 2016 that made them block my ATM card. I had to apply for another one. Luckily for me, I was in Nigeria when this happened. I would have been stranded over there.

Ok

Lawd Let me be FTC



Let me goan put all my money inside koloo ( ask a Yoruba person)

This is serious

Bros epp me withdraw i will transfer to u. Once u hear dat abeg flee

where the money dey? #hiss

G boys still get ways.....steady cash out...day in day out....I no be G boy oooo b4 all this mumu broke nl boys begin pm me

agarawu23:
only fraudsters will panic.

Indeed!

The world is coming to an End

Contact me for details on how to safe Money without loosing it to any financial institution or government agencies...

Opinionated:



The fight against corruption in Nigeria is becoming more systematic and quite a few bank customers could be caught in it inadvertently.

The recent Central Bank of Nigeria (CBN) regulatory framework for Bank Verification Number (BVN) operations and watchlist for the Nigerian banking industry mandates financial institutions to apply restrictions on accounts and BVNs associated with fraudulent activities.

As a result banks and other financial institutions have been mandated to report such activities to law enforcement agencies. Some banks have started updating their terms and conditions for opening and using accounts with them to reflect these changes and give them legal cover should they need to take action against some customers.

It is also possible to lose access to multiple accounts in different banks based on one of your accounts being frozen or flagged for fraud. The BVN simply links the other accounts to fraud and you may be liable to lose access to them.

While some parts of the regulations are not new, the effect of the new directive is that you could lose access to your account and your money based on the suspicion of fraud, not necessarily with concrete evidence. Therefore you need to be a lot more careful about your banking transactions and how you conduct business to avoid being negatively affected by the new regulations.



Source: http://www.opinions.ng/lose-access-money-nigerian-banks/

are the banks not the biggest centres of fraud in the first place? Why should a write up like this care me in the first place? On how many occasions have your monies been reversed when uncashed from the ATM? If so how many days weeks or months did it take you to do that? Seventy seven per cent of Nigerians dont patronise banks because of these fraudulent charges. More pain to an already bad sore is the cash handling charges introduced and backed by a recalcitrant Central Bank which is not considering the economic plight of the citizens.

Its better to yank this story or write up off this front page. This is new year and Nigerians want good news abeg not these moin-mojn-news.

Nigerians have been losing money to the Nigerian banks from time immemorial!

When I heard mobile I thought of something like a customised car toilet or bus,truck!

This is supposed to be called stationed toilet!

I doubt that toilet is mobile!

Martin0:


When I heard mobile I thought of something like a customised car toilet or bus,truck!

This is supposed to be called stationed toilet!

I doubt that toilet is mobile!

Hope all is well? Wetin concern toilet for this thread.

Say no to Weed

folakemigeh:
I'm not bothered. I bank with GTBank, SkyeBank, FCMB, Union and Wema(ALAT).





How much even dey all d bank account sef? if dem like make dem close all of dem, my piggybank at home serves me well...

For those that know my house, my piggybank is NOT under my bed ooo, i am told not to disclose where it is for safety reasons

Where do you live?

Don't worry. I'd be saving my money at home

#nothinglosss

Firstcitizen:

Hope all is well? Wetin concern toilet for this tread.
Say no to Weed

Hian I nor even look were I dey comment to sef!
Na wa oo!

Martin0:



Hian I nor even look were I dey comment to sef!

Na wa oo!

I know. E don happen to me b4. I modify am sharp sharp

it really painful😩😩

rhames:


are the banks not the biggest centres of fraud in the first place? Why should a write up like this care me in the first place? On how many occasions have your monies been reversed when uncashed from the ATM? If so how many days weeks or months did it take you to do that? Seventy seven per cent of Nigerians dont patronise banks because of these fraudulent charges. More pain to an already bad sore is the cash handling charges introduced and backed by a recalcitrant Central Bank which is not considering the economic plight of the citizens.

Its better to yank this story or write up off this front page. This is new year and Nigerians want good news abeg not these moin-mojn-news.

Same blind CBN are vigorously pursuing cashless policy and at same time discouraging people from banking with this uncertain policy where any thief or bank official can flag red your account on the flimsiest excuses.

lezz:
Same blind CBN are vigorously pursuing cashless policy and at same time discouraging people from banking with this uncertain policy where any thief or bank official can flag red your account on the flimsiest excuses.

The man GEJ brought to destroy the CBN is still there. Until we bring in another Soludo to come and clense the system again before we can have any sanity in the Nigerian banking system.

Okay... thanks.

Great news. Freezing fraudsters account is long overdue.

rhames:


are the banks not the biggest centres of fraud in the first place? Why should a write up like this care me in the first place? On how many occasions have your monies been reversed when uncashed from the ATM? If so how many days weeks or months did it take you to do that? Seventy seven per cent of Nigerians dont patronise banks because of these fraudulent charges. More pain to an already bad sore is the cash handling charges introduced and backed by a recalcitrant Central Bank which is not considering the economic plight of the citizens.

Its better to yank this story or write up off this front page. This is new year and Nigerians want good news abeg not these moin-mojn-news.

rhames:


The man GEJ brought to destroy the CBN is still there. Until we bring in another Soludo to come and clense the system again before we can have any sanity in the Nigerian banking system.

You write an illiterate or a beneficiary of fraud.

Firstcitizen:

I know. E don happen to me b4. I modify am sharp sharp

No so na,e nor get who dey above mistakes!

Firstcitizen:

I know. E don happen to me b4. I modify am sharp sharp

Firstcitizen:

I know. E don happen to me b4. I modify am sharp sharp

No so na,e nor get who dey above mistakes!

Where is the new regulations in the article?

From the day Jonathan government introduced BVN it intentions and capacity was kmown, hence the reason every individual has just one with your finger print attached

Opinionated:



The fight against corruption in Nigeria is becoming more systematic and quite a few bank customers could be caught in it inadvertently.

The recent Central Bank of Nigeria (CBN) regulatory framework for Bank Verification Number (BVN) operations and watchlist for the Nigerian banking industry mandates financial institutions to apply restrictions on accounts and BVNs associated with fraudulent activities.

As a result banks and other financial institutions have been mandated to report such activities to law enforcement agencies. Some banks have started updating their terms and conditions for opening and using accounts with them to reflect these changes and give them legal cover should they need to take action against some customers.

It is also possible to lose access to multiple accounts in different banks based on one of your accounts being frozen or flagged for fraud. The BVN simply links the other accounts to fraud and you may be liable to lose access to them.

While some parts of the regulations are not new, the effect of the new directive is that you could lose access to your account and your money based on the suspicion of fraud, not necessarily with concrete evidence. Therefore you need to be a lot more careful about your banking transactions and how you conduct business to avoid being negatively affected by the new regulations.



Source: http://www.opinions.ng/lose-access-money-nigerian-banks/

Xisnin:




You write an illiterate or a beneficiary of fraud.

Thanks for calling me an illiterate but tell me one policy under this CBN governor that has been friendly?


Loans to farmers are still at double digit?

The interest rate has not dropped since he came into the CBN as governor?