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CBN extends BVN registration for Nigerians in Diaspora

CBN's MPC retains benchmark interest rate at 14%

By Ali Smart

This is cheery news for Nigerians in the Diaspora as the Central Bank of Nigeria (CBN) has extended Bank Verification Number registration exercise for those who are yet to complete it.

It would be recalled that the CBN had earlier extended the exercise to 31 January 2016.

However, in a circular issued by the apex bank on Thursday, the CBN noted that it had observed through a survey the low percentage of registration of Nigerian banks’ customers abroad, due mainly to lack of accessibility to registration centres and unavailability of registration centres in some cities with large Nigerian population.

Read also: BVN has helped govt weed ghost workers, Adeosun says

In the circular signed by Dipo Fatokun, Director Banking and Payments Systems Department, the CBN informed all Deposit Money Banks (DMBs) that BVN enrollment of Nigerian banks’ customers in the Diaspora has been extended to 30th June 2016 to enable such customers complete the enrollment and link the BVN to their bank accounts.

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
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