2016-08-09 | BPS/DIR/CIR/01/012

Circular on Further Extension of BVN for Nigerian Banks' Customers in Diaspora

In August 2015, Nigeria's Central Bank introduced the BVN project for all Nigerian bank customers. They provided guidelines for enrolling individuals in diaspora and initially extended the deadline to January 31, 2016, due to low registration rates. The deadline was then further extended to June 30, 2016. To improve participation, new consultants were engaged alongside existing ones. As a result, a five-month extension until December 31, 2016, is now provided for Nigerian bank customers in diaspora to enroll in the BVN project. From January 1, 2017, any account without a BVN will be considered as "NO CUSTOMER INITIATED DEBIT" accounts until a BVN is attached to it.

Nigeria

Central Bank of Nigeria

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