Federal government asks CBN to extend BVN to microfinance
- Account holders in microfinance banks are set to start enjoying the services of Bank Verification Number
- Kemi Adeosun, Nigeria's minister of Finance made this known in a letter to the CBN governor, Godwin Emefiele.
- She said the extension would help identify bank accounts which might have been opened and operated for ghost workers
The federal government has asked the Central Bank of Nigeria to extend the requirement for the Bank Verification Number (BVN) to account holders in microfinance banks.
Kemi Adeosun, Nigeria's minister of Finance, said this in a letter to the CBN governor, Godwin Emefiele.
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She said the extension would help identify bank accounts which might have been opened and operated for ghost workers by fraudulent syndicates, Channels TV reports.
The BVN use is only limited to account holders in the deposit money banks.
Meanwhile, Legit.ng had reported that a Federal High Court in Abuja granted a request by Attorney General of the Federation Abubakar Malami for temporary forfeiture of all funds in bank accounts not linked to BVNs.
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The forfeiture followed an order which originated from a motion of notice filed by Malami on behalf of the Nigerian government on September 28.
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Source: Legit.ng
