Regulatory Alerts2012-06-15 | BPS/DIR/GEN/CIR/01/009Recall of Circular to all Nigerian Deposit Money Banks, Microfinance Banks and Primary Mortgage Banks on the use of the National Identity Number (NIN) for the "Know Your Customer" (KYC) Verification
This document is a reminder to Nigerian deposit money banks, microfinance banks, and primary mortgage banks to immediately follow the circular issued on May 28, 2012. The circular emphasizes using the National Identity Number (NIN) for 'Know Your Customer' (KYC) verifications. This is a directive from the Central Bank of Nigeria, as stated by Dipo Fatokun, Director of the Banking & Payments System Department.
09-46238455 (Fax) CENTRAL BANK OF NIGERIA Central Business District P.M.B. 0187 Garki, Abuja 09-46238445 Tel BPS/DIR/GEN/CIR/01/009 12th June, 2012.
RECALL OF CIRCULAR TO ALL NIGERIAN DEPOSIT MONEY BANKS, MICROFINANCE BANKS & PRIMARY MORTGAGE BANKS ON THE USE OF THE NATIONAL IDENTITY NUMBER (NIN) FOR THE 'KNOW YOUR CUSTOMER' (KYC) VERIFICATION This is to recall, with immediate effect, the circular reference number BPS/DIR/GEN/CIR/01/029 dated 28th May 2012, to all Deposit Money Banks, Microfinance Banks and Primary Mortgage Banks, on the use of the National Identity Number (NIN) for the 'Know Your Customer' (KYC) verification.
Dipo Fatokun Director, Banking & Payments System Department