The Central Bank of Nigeria on Tuesday extended the deadline for the Bank Verification Number registration by four months from June 30 to October 31, 2015.
The central bank disclosed this in a circular issued to all Deposit Money Banks operating in the country.
The circular dated Tuesday, June 30, 2015, with reference number BPS/DIR/GEN/CIR/02/008, was signed by the Director, Banking and Payment Systems Department, CBN, Mr. Dipo Fatokun.
The CBN stated in the circular that the extension of the deadline became necessary in order to give customers of DMBs more time to participate in the enrolment exercise.
It added that since the registration exercise had elicited a lot of interests from customers who had been crowding banking halls in the last few days, there was a need to extend the deadline so as to ensure a smooth completion of the registration process.
The CBN further stated that in view of the fact that a lot of Nigerians in the Diaspora might not be able to take advantage of the current registration process, a new guideline for their enrolment would soon be issued.
The circular read in part, “It has come to our notice that the BVN registration has elicited tremendous interest from Nigerian banks customers who crowd the banking halls in order to beat the deadline.
“Furthermore, there is the need to give Nigerian banks customers in the Diaspora ample time to enrol on the programme. The guideline for their enrolment is being finalised and will be released soon.
“In view of the foregoing, it has become imperative for the bank to extend the timeline for all bank customers to have the BVN. The deadline for enrolment is hereby extended from June 30, 2015 to October 31, 2015. This extension is expected to facilitate a smooth completion of the registration exercise.”
The circular stated that any bank customer without the BVN attached to his account would be deemed to have inadequate requirement with respect to the Know-Your-Customer guidelines.
Meanwhile, bank customers in Abuja, have expressed joy over the extension of the registration for the BVN.
Thousands of customers had thronged bank branches in Abuja metropolis as early as 6am to beat Tuesday’s initial deadline for the exercise.
At one of the second generation banks in, workers had a hectic time controlling the unruly customers who wanted to register at all cost in order to beat the deadline.
However, the customers were overwhelmed with joy when they learnt about the extension of the deadline to October 31.
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