CBN Rejects Calls To Extend The BVN Registration Exercise, Says Deadline Will Be Honoured


The Central Bank of Nigeria (CBN) has declared that the Bank Verification Number (BVN) registration, which closes tomorrow, Tuesday, June 30, 2015 will not be extended beyond the said date for its closure and has told all bank customers who have not registered to endeavor to do so or risk losing remote access to their accounts.

According to Ibrahim Mu’azu, who is CBN Director of Corporate Communications, not having the BVN will not prevent bank customers from making transactions at the counter, such as payments and withdrawals, on their accounts. However, he said that customers using remote access services, such as internet banking and other services online, and even Automated Teller Machines (ATMs), would not be able to transact business.

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He further said that Nigerians will not blame the CBN for its decision not to extend the closure date as the window has been open for about one and a half years and customers had ample opportunity to register, but as at the last check, only 14 million out of over 40 million Nigeria bank customers have registered.

Nigerians on their part have a very annoying knack for doings thing when it’s late. When the issue of the BVN was announced, many Nigerians (most of who are at one bank or the other right now, fighting and insisting that the bank staff attend to them over the registration), passed it on as the biblical “mark of the beast” or “666” and as such won’t have anything to with it. Right now, they are the ones clamoring for an extension of the date, Why?

Meanwhile, the apex bank also directed banks to provide online platforms for Nigerians in diaspora to register. Although the registration closes tomorrow, many customers are still unaware of the BVN or its benefits, especially Nigerians living outside the country but who have accounts with local banks.

But my question remains, why do we (Nigerians) prefer the “Fire-brigade” approach of doing things? Is it absolutely wrong if we do things at the appropriate time set for it? I sincerely wish that the CBN goes back on their decision and extend the date to maybe, an extra week. What do you  think?