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BVN for BDC: Reps summons Emefiele
The lower legislative house on Wednesday summoned the Central Bank governor, Godwin Emiefele to come and explain the new guidelines requiring customers to provide their bank verification numbers in transactions with bureau de-change operators.
The lawmakers further requested the CBN to device alternate control mechanism for foreign exchange transactions as BDC operators are being restricted with multiple regulations.
The resolutions were sequel to the passage of a motion brought under matters of urgent Public Importance by Danburam Abubakar Nuhu.
In the motion tagged: ‘Against the Proliferation of Bank Verification Numbers,’ Nuhu while moving the motion noted the effort of the CBN to stabilise foreign exchange market by making it compulsory for all BDC to have the Bank Verification Number of all customers.
Read also: ABCON protests CBN’s BVN for forex transactions order
“To date, 2,765 BDCs have been approved by the CBN. All customers desiring foreign exchange through any channel would be forced to give their BVN to those with whom they are doing transaction,” he said.
The attempt to use the BVN to stem money laundering, he further argued, will lead to the proliferation of the BVNs of Nigerians. This will make vital financial information of Nigerians easily accessible to dubious people.
The motion was passed after the Deputy Speaker, Yusuff Lasun called for a voice vote and subsequently referred to the House committee on Banking and Currency for further legislative action.
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