19 million bank customers have BVN nationwide

Ahead October 31, 2015 deadline for all bank customers to enroll on the Bank Verification Number (BVN) platform, the Central Bank of Nigeria (CBN) has revealed that 19 million customers have enrolled on the platform. The CBN Deputy Director, Banking and Payments System Department, Mr. Musa Jimoh, disclosed this during the Finance Correspondents Association of […]

NIMC postpones mandatory use of NIN

The National Identity Management Commission (NIMC) has postponed the date for the commencement of the mandatory use of the National Identification Number (NIN), from September 1, this year to January 9, next year. The Commission had earlier directed that all transactions involving the identification of individuals as specified in Section 27 of NIMC Act, must […]

Bank customers get CBN’s six-year duration to lodge complaints

The Central Bank of Nigeria (CBN) has set a six-year time limit within which all transaction-based complaints against financial institutions can be lodged. A circular endorsed by its Director, Financial Policy and Regulation, Udofia Obot, addressed to all banks, discount houses and other financial institutions, explained that the new policy became exigent following recent challenges […]

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