Investment One commences compulsory BV verification

Investment One has said that in compliance with the Securities and Exchange Commission (SEC) directive to all capital market operators, it has commenced compulsory updating of Bank verification numbers (BVN) by clients.

The company through its Customer Relationship Management, has revealed that “It is now compulsory for all investors to update their investment (fixed income, stock broking, mutual funds etc) account by providing their Bank Verification Numbers (BVN).”

Investment One disclosed that the directive was in furtherance to the directives of the Securities and Exchange Commission (SEC) that all Capital Market Operators (CMOs) should adopt verifying their clients’/customers’ true identity on the Nigerian Inter-Bank Settlement System (NIBSS) website via their Bank Verification Numbers (BVN).

It emphasized that investors should download its Account Update Form within 30 days to update their r investment records, adding that all completed forms should be submitted along with a valid means of identification and utility bill, where ones address has changed, to any of its offices or via email to customer care.

According to the company, benefits of updating personal details, includes enhancing security of investment account, improvement of customer verification process as well as reducing fraudulent activities.