₦airaland Forum

All is well with me and you

All in the name of 2019 political colouration

Where is PEJ?

When you learn how much you worth, you stop giving people discounts. That pretty lady has no value that is why is trekking.

Nigeria of my dream

I REP federal university Lokoja

As for me, I will praise God.

Okay

THE Bank Verification Number, BVN, is an-other important step the Central Bank of Nigeria, CBN, is using to strengthen the security of banking transactions and to ensure that fraudulent transactions are minimised, if not totally eliminated. The campaign is on, but the public may not realise its importance until it closes in June 2015.
Yet as the public embraces the initiative with enthusiasm, it should be aware that some fraudsters are trying to undermine the exercise by providing seemingly easier registration options for bank account holders. They request these details online and threaten that the account would be closed if the owner does not provide them the details. Their target is the account holder’s money. The best way of enrolling remains direct communication with one’s bank.
BVN uses biometric technology to register customers in the financial system.   It records these physical features which are unique to individuals – fingerprints and the face. The record would be used to identify the person afterwards. Once a person’s biometrics have been recorded, and BVN issued, the account would be accessed through BVN. The major objectives of the initiative are to protect bank customers, reduce fraud and strengthen the Nigerian banking system.
Biometric enrolment is helpful to people who cannot read and write. Their finger prints and pictures would serve the same purpose as signatures. Multiple account holders would be covered with a single registration in any of the banks where they have accounts.
BVN will help the banking system reduce situations where loan defaulters, for instance, move from one bank to the other and the banks extend new credits to them, without knowing their history.  Banks would be able to track transactions across all banks in Nigeria with more ease.
As CBN implements the BVN initiative, it has to ensure the security of the data, from rogue bankers and also importantly from damage, as has been the experience with other sectors that engaged in biometric enrolments. It should also create measures to punish banks that might exploit the information they have to blackmail customers with whom they have disagreements.
BVN is a great initiative that would reduce illegal banking transactions and improve national financial intelligence gathering. The interests of account holders should be accorded importance so that their increased confidence in the banking system would improve the financial standing of banks. Customers will use banks more when they know that their transactions are safe. BVN offers vast opportunities to protect customers, banks and the entire financial system.
The CBN should enhance the security of BVN to protect the entire financial system. It should be on the watch for technologies to keep improving BVN capacities.
http://www.vanguardngr.com/2015/04/importance-of-bank-verification-number-2/

Congratulations

What goes around comes around.
Law of Karma must manifest
AIT go and sink into Lagoon

They should bear it in mind that there wouldn't be brown envelope moving on the red carpet, they should be ready to work.
Say no to corruption

Sai Buhari

The answer to this relative, Senate President is superior to all Ministers but ordinary Senator no pass minister of petroleum etc

Waste of fund, where we have thousands of investors in Nigeria, including Seun, myself, etc

Time heals everything

Nigeria, Great NATION
If you believe, Like it

Victory at last
Sai Buhari till 2023 by God's Grace

One day, I will become IG in this great nation, by God's Grace

APC's Femi Fani Kayode, but on his own part he gets Sense pass FFK

Presidential scholarship for First class students

People's senator
Incoming Senate President is speaking for us

God will save my fellow Nigerian from Bad leaders

Serious

Young shall grow

Deputy minority leader in awaiting

Corruption must go

K

K

K

But stealing should be corruption

But stealing should be corruption

Is good to be good