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BVN: CBN provides guidelines for Nigerians abroad

By on August 21, 2015

The Central Bank of Nigeria says it has finalised the guidelines for Nigerians in the Diaspora to enroll for the Bank Verification Number.

The Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, said this in a statement made available to newsmen on Wednesday in Abuja.

The central bank said it provided the guidelines to enable Nigerian bank customers living outside the country to register for the BVN without having to travel back home, the News Agency of Nigeria reported.

It said the measure was part of the efforts by the CBN to fully implement the BVN project.

It stated the registration pattern included the use of foreign-based Nigerian banks and a consultant called Online Integrated Solution.

On the use of foreign-based Nigerian banks, it required the customers to go to the bank where their bio data would be taken, the BVN generated and communicated to their various banks.

On the second option, involving the use of a consultant, the CBN said it would require the customer to pay an equivalent of 30 pounds to the OIS.

The statement read, “`The company is expected to capture necessary data for online transmission to the Nigeria Inter-Bank Settlement System, which would thereafter generate the BVN and communicate same to the customer.

“The customer may approach OIS for the BVN, where the communication from the NIBSS is not received within 48 hours after the enrollment.

“Thereafter, Nigerian banks’ customers in the Diaspora are expected to forward their BVN to their banks for linkage with their accounts.”

The statement explained that the plan for the use of a consultant would roll out in 12 locations in the first phase.

It named the locations to include London, Leicester, New York, Atlanta, Washington DC, Houston, Johannesburg, Beijing, Shanghai, Guangzhou, Dubai and New Delhi.

It said the second phase would include locations with a high demand for service based on line feedback.

 

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