In order to accommodate customers of micro finance banks, primary mortgage institutions, among others, CBN has concluded plans to extend the BVN registration deadline.

The CBN’s director, banking and payment systems department, Dipo Fatokun told news men under New Telegraph reports.

The number of Bank Verification Number linked to customers’ accounts as at August 23 2016 was 36.7 million, while the total number of individual customers in the banks was reported as 59.9 million as at the same date.

Dipo Fatokun words:
“We also expected that many of the other financial institutions customers, who already have their BVNs will supply the data to their banks, while others without BVN will register afresh.
“I want to assure you that the BVN has assisted us a lot in the banking system. It has assisted us to check frauds, and we are working on a framework, that will enable us if not to blacklist customers, because of some legal implications, but at least to watch-list a customer that is identified to have been fraudulent, or have done what he is not supposed to do across the banking sector.”