Monday, June 29, 2015

BVN Deadline Expires Tomorrow, As NIBSS Says No to Extension

 As the deadline given to Nigerians by the Central Bank of Nigeria (CBN) for the registration of the banks verification number (BVN) expires tomorrow Tuesday June 30, 2015, the Nigerian Inter Bank Settlement System (NIBSS) has stated that there is no plan to extend the registration.
Mr. Ade Shonubi, Managing Director of NIBSS, at the weekend, said in an interview with Daily Independent that the registration exercise will not be extended contrary to demand of some Nigerians.

His words: 
"There is no going back on the deadline set for the exercise. As I am talking to you, banks are putting finishing touches to the registration. I am also hopeful that the target of 100 percent compliance will be met tomorrow. Just as most projects, you start slow but as time goes on, it picks up. The number of enrollment doubles every week. So, given the number of BVNs generated so far, I think June 30 is achievable".
He added that the feedback from the banks is very positive. "I think we should start by understanding why we are embarking on the BVN project, you will see that there is no way the banks would not be enthusiastic about it. When the BVN project was initiated, there were three key areas of focus.

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