The Central Bank of Nigeria (CBN) recently mandated all banks and licensed Bureaux de Change (BDCs) operating in Nigeria to provide Bank Verification Numbers (BVN) as part of the requirement for the sale of foreign exchange to their customers. It has however come to our notice that some customers are reluctant in disclosing their […]
CBN’s Regulatory Decision in the Matter of Financial Statements of Stanbic IBTC Holdings Plc for Years Ended 31st December 2013 and 2014 – By Godwin EMEFIELE
1. I write in response to your letter dated 26th October 2015, with reference number FRC/2015/DIM/REGULATORY/001, in which the CBN was notified of a Regulatory Decision […]
As part of the overall strategy for ensuring successful implementation of the BVN Project, CBN issued a circular stipulating that by October 31, 2015: all Nigeria Banks’ Customers should have the BVN attached to their accounts.
Any bank customer without the BVN would be deemed to have “Inadequate KYC”.
CBN has observed with satisfaction, the progress […]
