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CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks (12094 Views)

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Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by dfrost: 8:04am On Dec 05, 2023
ambale:


Its not mandatory but opay make it mandatory if you want to transact higher

Maybe na those ones dem deg target sha ooo

Or new bank account holders

That's the point. There's a caveat - transact higher. How many people transact higher? Why transact higher when a fraudster can distribute funds across multiple accounts?

3 Likes

Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by LLSAINT(m): 8:05am On Dec 05, 2023
My brother
I wonder like you oooo
This country is a theatre of the absurd
The more you look the less you see

LeoDeKing:
When this bvn rubbish started, the only transaction I was allowed with my bank account was to deposit into it. I wasn't allowed to withdraw and transfer out of the account until after bvn registration.

I still don't understand this report. Is it that other bank customers have been freely conducting transactions with their bank accounts without bvn?

1 Like

Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by MichaelSokoto(m): 8:16am On Dec 05, 2023
How many times dey don issue ultimatum for linkage to bvn?

Which kyne useless unserious con3 be dis?

angry

1 Like

Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by YeyeGbami: 8:52am On Dec 05, 2023
LeoDeKing:
When this bvn rubbish started, the only transaction I was allowed with my bank account was to deposit into it. I wasn't allowed to withdraw and transfer out of the account until after bvn registration.

I still don't understand this report. Is it that other bank customers have been freely conducting transactions with their bank accounts without bvn?

Yeske
Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by XAUBulls: 9:53am On Dec 05, 2023
adenigga:


https://punchng.com/CBNs-anti-money-laundering-fight-triggers-fresh-BVN-race-n-banks
Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by Apel147(m): 11:25am On Dec 05, 2023
This exposes the rot in our commercial banking systems.. alot of bankers aid individuals and companies to launder monies! Some CBN governors like the one that just left allowed alot of bad policies and sheddy businesses to thrive..


soloehis:
This is confusing..does it mean some persons are freely transacting without BVN after 8years?
Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by baralatie(m): 12:01pm On Dec 05, 2023
LeoDeKing:
When this bvn rubbish started, the only transaction I was allowed with my bank account was to deposit into it. I wasn't allowed to withdraw and transfer out of the account until after bvn registration.

I still don't understand this report. Is it that other bank customers have been freely conducting transactions with their bank accounts without bvn?
Very good question

1 Like 1 Share

Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by Tonytonex(m): 12:07pm On Dec 05, 2023
erniok:


Yes, some banks have tier 1 accounts that have a limit of 50k and no ID is required. I think CBN is saying no to such practices.
yes. But they MUST provide their BVN. No Bank will open an account for you without a BVN. Even the Fintech banks also you must provide either BVN or NIN. except Palmpay.
Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by Tonytonex(m): 12:10pm On Dec 05, 2023
designking:
My kids created Opay and Palmpay accounts without BVN and I was able to deposit and transfer funds into these accounts.

They have been using this account without BVN for more than 6months now.
WOW. But when I opened Opay account recently , they said I should provide my BVN or NIN. But Palmpay didn't require any except you want to upgrade to tier 1 account.
Tier 1 account must have either BVN or NIN.
Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by Tonytonex(m): 12:20pm On Dec 05, 2023
dfrost:


Mobile banks don't make it mandatory for regulatory IDS. Hence I refused to open any.
it depends on the mobile bank. I opened one and it was mandatory for BVN or NIN
Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by okeke6969: 2:32am On Dec 06, 2023
Law and directives are meant for the poor alone.
Re: CBN's Anti-Money Laundering Fight Triggers Fresh BVN Race In Banks by charlsecy(m): 3:08am On Dec 06, 2023
designking:
My kids created Opay and Palmpay accounts without BVN and I was able to deposit and transfer funds into these accounts.
With restrictions; but Opay and PalmPay are digital banks. Can an ordinary citizen walk into a bank to open an account without a BVN?

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