The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to report Bank Verification Number (BVN) of a dead customers to Nigeria Interbank Settlement System (NIBSS) within 24 hours of confirmation.

The directive is contained in the revised BVN guideline issued by the apex bank and signed by its Director, Payment System Management, Musa Jimoh.

“Report the BVNs of confirmed deceased customers to NIBSS for designation as “Deceased” on the BVN database within 24hrs of confirmation,” the circular said.

The banks are also expected to use the watch-list report submitted by participants and duly endorsed by the Managing Director/CEO of the Institution, with clearance from the Director, Risk Management Department of CBN to delist the BVN from the watch-list.

Jimoh said the CBN’s move aligned with the powers conferred on the regulator, under the Central Bank of Nigeria Act, 2007 (CBN Act), and the Banks and Other Financial Institutions Act (BOFIA) 2020.
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Okay ... well i dont think there'll be any Dead customers for now, cus they dont issue Death certificate in our country, where BuBu sef dey give Dead person work.. no to talk of..

CBN trying all they can to salvage the Dead economy or should i say.....

How will the banks go about this especially on the hundreds of thousands of innocent people killed by Boko Haram , Islamic bandits and Islamic Fulani herdsmen In the North