Uncertainty as BVN registration abroad ends Jan 31

THE fate of Nigerians living abroad over the registration into the Bank Verification Number (BVN) scheme, which closing date has been extended twice, remains uncertain, 72 hours to the deadline.

The Central Bank of Nigeria (CBN) had at the expiration of the first deadline on October 31, 2015, for compliance to BVN registration, extended the timeline for Nigerians in Diaspora, while enforcing penalties for non-compliance on account holders in the country.

It explained that the extension was to enable the Nigerians abroad to complete the enrolment as well as link the BVN to their respective accounts, urging banks to ensure that the exemption was only utilised by the targeted group.

Already, banks have started issuing warnings to their customers on their readiness to prevent access to local and domiciliary accounts that have not been captured in the scheme.

A sample of the message reads: “We would like to inform all our customers residing abroad, who are yet to register for the BVN by January 31, 2016, that their accounts would be temporarily restricted as mandated by CBN.”

“This is in line with a recent circular sent by the apex bank to all deposit money banks (DMBs) instructing them to place debit restrictions on all accounts without BVN by the said date.

“To register, please visit any of the designated international BVN registration locations set up by CBN for this exercise or any of our branches in Nigeria whenever you visit,” one of the banks said.