Barring any last minute extension by the Bankers’ Committee of the Central Bank of Nigeria, Deposit Money Banks will on Wednesday start to deny about 14.6 million customers from enjoying banking services over their failure to obtain Bank Verification Numbers.

The BVN project, which commenced in February 2014, will officially close on Tuesday, June 30, 2015.

The Bankers’ Committee, which comprises of the CBN, bank CEOs and a few other stakeholders, had given June 30, 2015 as the deadline for the customers to do their biometric registration and obtain their BVNs.

However, as of June 11, 2015, the committee said only 14 million customers had been registered under the BVN project.

Going by the current statistics from the Enhancing Financial Innovation and Access, an organisation committed to deepening financial inclusion in Nigeria, only about 28.6 million adults in the country have bank accounts.

This means that at least 14 million bank customers have yet to do their biometric registration and get their BVNs.

The BVN project will help the banks to identify their customers through their fingerprints. Each bank customer’s fingerprint is linked to their unique number.

It is meant to help check fraud in the banking system, boost retail or consumer credit, and also enhance economic growth.

The Managing Director, United Bank for Africa Plc, Mr. Phillips Oduoza, who spoke after the Bankers’ Committee meeting in Abuja about three weeks ago, confirmed that only about 12.5 million bank customers had been registered since the exercise began.

While calling on those who had yet to register for the BVN to do so before the expiration of the June 30 deadline, he declared that customers who failed to do so would not be able to enjoy banking services.

Oduoza had said, “We also discussed the electronic banking space. In the area of BVN, we have done 12.5 million customers and this is a substantial mileage. There is still a need to close the gap before the deadline of June 30 and any customer that hasn’t done so will not enjoy banking services.

“So, we are urging customers to enrol so that they will continue to enjoy unhindered banking services.”

He added that by the end of this month, those that had yet to get their BVNs would not be able to have access to credit, enjoy foreign exchange and conduct Internet banking services.

The Managing Director, Nigeria Interbank Settlement System Plc, the organisation driving the biometric registration process, Mr. Ade Shonubi, had a few weeks ago said it was unlikely that the Bankers’ Committee would extend the deadline.

As of the time filing this report on Sunday, it is unclear if customers who failed to register by Wednesday would be allowed to do so and gain access to their accounts or whether the Bankers’ Committee would allow an extension of the deadline.

While there are 28.6 million bank accounts belonging to adults in Nigeria, the Electronic Payment Providers Association of Nigeria states that the number of bank account holders (made up of both individuals, including children, and organisations) has reached 76 million out of a population of 170 million people.

A new World Bank report states that Nigeria, like many countries in sub-Saharan Africa, has a growing population who are excluded from the financial services compared to their counterparts abroad.

http://www.punchng.com/business/business-economy/banks-may-deny-14-6-million-customers-services-by-wednesday/ CC: lalasticlala

It's extremely impossible for many are still opening accounts with banks and it's a fraud to withhold someone's fund without written notice..

FTC! I dedicate this land to my Princess

Deadline will be extended.

Nah Shakara joh.Baba won't allow dis to happen.Niagra and last minute rush

Lies......I dont believe it

INTROVERT:
Deadline will be extended.

They don't have option.

the extension is certain.... Jst came out from d bank and a lot of people has not been given number yet... Not to talk of. D dial minute guys....may God help us in nigeria... When they were pulling and begging us to fill d form dat time

Make den try am naaaa

Na wa o, after all the physical, mobile and online persuasion, millions haven't done it? More time has to be given. They can't deprive people of their funds because of that.

dem no fit jor

SO UNA GO TAKE CONTROL OF MY MONEY IF I NO C MY BVN DO.................... MBA!!!

I wouldn't blame the Banks

Honestly I was so embarrassed this morning, seeing lots of people (especially Youths ) queuing outside the gates of various banks, just about 5:30AM in the morning. It was massive.

What's wrong with us in Naija? People doing as if the announcement was made just last week. Choooiiii.

Honestly I wouldn't blame the banks. Bankers ain't robots.

Please, what about diasporans using Nigerian bank cards aboard?

Thats impossible.. Buhari will not accept that.. Thats another hardship for people when they cant have access to their funds..

JUS like sim card registration and that of PVC, dem go defnlty extend the date.
#DontPanic

.

Lie lie, in such unorganized country. It will still continue like NCC Sim registration.

I did this shit twice and they said it didn't reflect. . Is that my fault.. dont give me my money first on Wednesday when I ask 4 it

OK, we r waiting!

it must be extended.

I did mine 5 weeks ago. and I was given a number on a piece of paper and also told that I would get a message via text.


I ve not gotten any text message till today oo.


if I hear say anytin happen to my money!!!

it ll be extended am very sure of that

OK

i went to Gt bank some days back,dey said dat dey stop issuing their forms by 8am,nd my house is far from their branch here.I have gone 3times now and it's either am 30mins or wateva late..am tired sef....i will just widraw my money nd register afresh..

What about Nigerians abroad who operated several bank account and for some reason they are outside the wall of the country what will now happen to their hard-earn money?,I think the issue of deadline as if we are slaves should be barnish from this land.

What happens to those Nigerians who have accounts in Nigerian Banks but currently reside outside Nigeria but still operate these accounts?

please have not done mine. is it compulsory I do it in my bank?, I use Gtbank and the silly bank is far from where I reside

DEM GO EXTEND THE DEADLINE,
NO BE ZOO REPUBLIC OF NIGERIA WE DEY.

JUST RELAX AND WATCH

Why cant they do this shit online with all the money CBN make? I dont think it will cost a fortunate to come up with best way of doing it online. If I remember correctly all mobile lines are registered. CBN should have teamed with telecom providers and the agency in charge of issuance of national id. The use of online portal will ensure that more people get their bvn without going to the banks.