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BVN Enrolment Ends Tomorrow As Sanction Looms For Defaulters. - Politics - Nairaland

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BVN Enrolment Ends Tomorrow As Sanction Looms For Defaulters. by uhalauju(f): 5:52am On Oct 30, 2015
The Biometric Verification Number project
commissioned by the Central Bank of Nigeria
(CBN), in conjunction with the Bankers Committee,
would be ending tomorrow, with 21 million
registered customers recorded.
However, with the registration ongoing until
October 31, The Guardian investigations showed
that bank customers were more about linking their
accounts to the BVN than fresh enrollment.
Specifically, in a visit to 18 branches of 10 different
banks in the industry in Amuwo-Odofin Local
Government Area and nearby environs, only 45
customers cumulatively were recorded, while more
than two-third of them came to link their accounts
with the BVN obtained from another bank where
they also have accounts.
Expectedly, the next phase would be the
enforcement of the prescribed sanctions, which
include non-access to accounts until compliance
and restriction from foreign exchange transactions.
The apex bank had extended the registration period
by three months after the initial deadline of June
30, 2015, providing more time and facilities to
enhance seamless enrolment.
An analysis of the trend in registration showed that
as at October 25, 20.8 million bank customers have
enrolled, compared to 19 million as at July 30.
Meanwhile, CBN said that given the assessed
tradition of multiple accounts holding by an
average Nigerian, which could be conservatively
estimated at about two or three per account holder,
it could be safely assumed that over 40 million
accounts might have been enrolled to BVN.
Still, the development is raising another question
over the depth of the financial inclusion initiative,
as the BVN project may be showing that only little
above 21 million Nigerians have a formal account
with banks.


http://www.ngrguardiannews.com/2015/10/bvn-enrolment-ends-tomorrow-as-sanction-looms-for-defaulters/
Re: BVN Enrolment Ends Tomorrow As Sanction Looms For Defaulters. by shaddi(m): 5:55am On Oct 30, 2015
1
Re: BVN Enrolment Ends Tomorrow As Sanction Looms For Defaulters. by Demmocrats(m): 5:55am On Oct 30, 2015
Re: BVN Enrolment Ends Tomorrow As Sanction Looms For Defaulters. by olumide81(m): 6:19am On Oct 30, 2015
Just hoping this wont become one of those white elephant policies
Re: BVN Enrolment Ends Tomorrow As Sanction Looms For Defaulters. by Pavore9: 6:39am On Oct 30, 2015
l am imagining the last minute queue!

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