By Opeyemi Abdulsalam The NDIC has identified a issue with former Heritage Bank customers’ account names not matching their BVN records, leading to delays in refunding their deposits. According to the NDIC, discrepancies in account names associated with former Heritage…
By Sodiq Adelakun The number of registrations for the Bank Verification Number (BVN) in Nigeria has surged to 60.49 million as of January 26, 2024, according to data released by the Nigeria Inter-Bank Settlement System (NIBSS). This indicates that 291,232…
By Sodiq Adelakun In a race against time, Nigerian bank customers have been scrambling to register for their Bank Verification Number (BVN) ahead of the Central Bank of Nigeria’s (CBN) impending deadline. The latest data from the Nigerian Interbank Settlement…
By Sodiq Adelakun Starting from March 1, 2024, individuals holding Tier-1 bank accounts and wallets in Nigeria will be required to have either the Bank Verification Number (BVN) or National Identity Number (NIN), or both. This announcement was made by…
The Central Bank of Nigeria has clarified that Bank Verification Number, BVN, has no expiry date contrary to claims making the round. The apex bank’s explanation came amid speculations that the BVN has a ten years lifespan. Debunking the claims…
THE Presidential Amnesty Programme, PAP, has affirmed that findings that will emanate from the ongoing investigation into multiple accounts of ex-agitators linked to one BVN, will determine the fate of protesting beneficiaries. THE Presidential Amnesty Programme, PAP, has affirmed that…
At least 6,047 Bank Verification Numbers of bank customers have been placed under the Central Bank of Nigeria watch list for fraudulent transactions. This was contained in the CBN Financial Stability June 2022 report published in December 2022. The report…
By Kayode Tokede The Central Bank of Nigeria (CBN) has stated in its revised regulatory framework for Bank Verification Number operations that violators will be sanctioned. This was disclosed in a circular titled “Issuance of revised regulatory framework for Bank…
By Ogaga Ariemu The Federal Government has stated that arrangements are ongoing to replace the Bank Verification Numbers (BVN) with the National Identity Numbers (NIN). The Minister of Communications and Digital Economy Dr Isa Pantami, who disclosed this to newsmen…
