The Director, Corporate Communications, Central Bank of Nigeria, CBN, ibrahim Mu’azu, has disclosed that the deadline – Tuesday, June 30, 2015 – for registration of the Biometric Verification Number will not be extended.
According to Mu’azu, bank customers have been given suffice time and CBN expected they should have taken advantage of the period scheduled for the exercise to register.
Contrary to the speculation that customers who do not have BVN will be prevented from making transactions, such as payments and withdrawals, Mu’azu said only customers using remote access services: internet banking, Automated Teller Machines (ATMs) and other on-line services would not be able to transact.
He also confirmed that over 14 million bank customers have already registered.
For Nigerians in Diaspora to participate in the exercise, CBN has also directed banks to provide online platforms for those who have local accounts to register.
Meanwhile, here are 7 things you should know about the BVN:
1. The BVN is an initiative of the Central Bank of Nigeria (CBN)
2. It was launched in February 2014
3. It is a unique number that enables one person to have a single identity in the banking system
4. It is aimed at protecting bank customers from identity theft
5. It wills serve the purpose of strengthening the Nigerian banking system
6. A customer is only expected to register at one bank, irrespective of the number of accounts he has
7. Customers will still be able to access cash after the BVN deadline ends but online transactions will be restricted
