News

BVN confusion *Banks block verified customers’ accounts

There was confusion  in most banks in the country, during the week, following the refusal by some of the banks to pay their depositors even when they had gone through the processes of obtaining their mandatory bank Verification Numbers (BVN).
Christian voice checks revealed that the accounts of these customers were blocked along with those who did not obtain the BVN.
One of the customers who spoke to our reporter at a bank in Owerri complained that he could not carry out any transaction with his bankers who were the ones that verified and registered him for the BVN on the excuse that they had not linked the number with his account.
He was, however, given a form to fill.
Another, a student of Alvan Ikoku Federal College of Education (AIFCE) was seen making frantic calls to her relatives to send her money as the bank had blocked her account.
Asked whether she registered, she vehemently retorted, “yes”. In a social media post, a television reporter Omor Bazuaye, narrated his ordeal, stating that despite four futile attempts he made, he has finally registered four months ago by has bank (name withheld) but that he never got a number and his account has been blocked.
Some of the customers said that they would consider the legal option, having been disappointed for no fault of theirs but because the bank officials had been inept.
The CBN had set Oct 31, 2015 as deadline for bank account holders in Nigeria to obtain a BVN as part of the ‘Know Your  ‘Customer’ (KYC) requirements.
CBN, however, extended the timeline for customers in the Diaspora till Jan. 31, 2016, while expressing satisfaction with the progress made in the implementation of the project.
With the expiration of the Oct 31 deadline, the apex bank directed other banks to operate as “no customers initiated debit” all accounts of Nigerian residents without the BVN.

About the author

admin