CBN Orders Banks To Submit All Accounts Without BVN

Shortly after the November 3 deadline given by the court, commercial banks had started the compilation of bank accounts without the BVN.
If your account has no bank verification number, you have officially courted trouble with the financial service authorities.

The Central Bank of Nigeria has written a letter to the Deposit Money Banks in the country, asking them to submit list of customers and bank accounts without the BVN.

The letter came after a Federal High Court in Abuja ordered the CBN and 19 banks to freeze accounts without the BVN.

The banks also received an interim order seeking the forfeiture of deposits in affected accounts.

A good number of the commercial banks, if not all, have complied with the directive from the CBN, according to top bank officials, who spoke to Punch on Sunday under the condition of anonymity because they were not authorised to speak on the matter.

Shortly after the November 3 deadline given by the court, commercial banks had started the compilation of bank accounts without the BVN.

However, the banks are also lobbying the Office of the Attorney General of the Federation to back down on the plan by the Federal Government.

A Federal High Court in Abuja had on October 17 ordered the forfeiture of all monies in bank accounts owned by corporate organisations, government agencies and individuals without the BVN.