Tag Archives: BVN

BVN fraudsters sent to 6 months in prison

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The Economic and Financial Crimes Commission, EFCC today secured the conviction of Innocent Clinton and Emmanuel Okanni before Justice Sa’ad Muhammad of the Gombe State High Court on a two-count charge bordering on conspiracy and theft.

The convicts, who hail from Orlu Local Government Area of Imo State, specialised in duping innocent people by obtaining their bank verification numbers using the trick that their accounts had been closed due to BVN issues.

Messrs. Clinton and Okanni were arrested by operatives of the Gombe Zonal office of the EFCC in Imo State following a petition by Ibrahim Gwamna, alleging that on December 7, 2016, he received a call from one Kingsley who presented himself as a staff of Diamond Bank and asked him whether his mobile banking was working to which he answered in in the negative.

Later, he received a text message purportedly from Diamond Bank instructing him to call a particular phone number as customer care in order to lodge his complaint.

Few minutes after complying, he received an alert that the sum of N864, 000.00 was transferred from his account into the convicts’ accounts.

Upon arraignment today, the two men pleaded guilty to the charge and were accordingly convicted and sentenced to six months imprisonment each.

They however received the option of N30, 000 fine.

 

Source: Premium Times

FG extends BVN to Microfinance Banks as ‘ghost workers’ move funds there.

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The Federal Government has urged the Central Bank of Nigeria to enforce the use of Bank Verification Number, BVN, in Microfinance Banks, amid suspicions that fraudulent government employees have set up “ghost workers” accounts in MFBs to avoid detection.

The Minister of Finance, Kemi Adeosun, in a correspondence to the governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, said the introduction of the BVN has immensely improved the integrity of the Federal Government payroll, from which more than 50,000 ghost workers had been detected.

Mrs. Adeosun however said operating bank accounts in MFBs without requirement for BVN has left a huge loophole for those who hide and launder proceeds of crime to escape detection by law enforcement agencies.

“Our ongoing efforts to verify the integrity of Federal Government personnel costs and purge the system of fraud and error has made extensive use of the Bank Verification Number as a means of identifying recipients of multiple salaries, and salaries paid into accounts with names that differ from those held on our payroll records. The success of this effort has to date yielded the removal of over 50,000 payroll entries,” the Minister said.

Mrs. Adeosun told the CBN governor that prior to the deadline for obtaining the BVN by bank customers, a large number of salary accounts of Federal employees were found to have been moved from commercial banks to microfinance banks, which did not require the use of BVN.

“This is a suspicious activity, and we have already commenced a review of such cases to identify and investigate any cases of fraud,” the Minister said.

Although the minister said extending the requirement for BVN to microfinance banks may impose a huge financial strain on the smaller microfinance banks, the Minister pointed out that “some MFBs, such as National Police Force Microfinance, NPF, have over 27,000 salary accounts. Our inability to perform checks on such a large number of salary earners is a key risk.”

“I am therefore seeking your co-operation to enforce compliance with BVN on any MFB with over 200 active salary accounts, or those above a certain size. This will support the Federal Government’s efforts at reducing leakages to create headroom for the capital projects that will support the growth of the economy,” the Minister said.

The CBN had earlier announced its intention to extend the requirement for the extension of the BVN to MFBs in September 2016 but has delayed the measure.

 

Source: Premium Times

No BVN, No Salaries, Kwara Govt. Tells Workers

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Kwara Government says any worker that failed to submit his/her Bank Verification Number (BVN) within seven days will not receive salary.

 

Gov. Abdulfatah Ahmed stated this during a meeting of the Committee on Personnel Database Development in Ilorin on Tuesday.

 

He said government has no intention of withholding any worker’s salary without justification.

 

The governor also said affected workers and pensioners will be credited with their salaries and pensions but will not be able to access the money until they obtain BVN.

 

Ahmed, who is also Chairman of the committee, explained that the unique bank numbers were necessary for preliminary verification of workers and pensioners on the state and local government councils’ payrolls.

 

He noted that at this stage of the verification, those without valid BVN could not yet be designated as ghost workers.

Ahmed said the intention of the database was to give government accurate picture of state and councils’ payrolls and ensure that those properly employed received salaries/pensions.

 

Alternate Chairman of the committee, Alhaji Isiaka Gold, said only 49, 579 out of the 82, 642 workers so screened, had valid BVN.

 

He added that 124 workers were so far discovered to have fake BVN.

 

He said that the first level verification also revealed 324 individuals who were linked to 659 multiple accounts.

 

Gold, who is also the Secretary to the State Government, urged workers and pensioners yet to submit their BVN to do so within seven days or risk having their payments withheld.

 

He called on workers who were properly recruited by the state and local governments to remain calm, assuring that ongoing verification will not affect their salaries and jobs.

 

(NAN)

FG Deploys BVN To Track Ghost Workers- Adeosun

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Federal Government yesterday said it had successfully completed a pilot programme which uses Bank Verification Number, BVN, details to check for ghost workers and identify duplicate and other irregular entries on the payroll.

A statement issued by the Director of Press, Federal Ministry of Finance, Marshall Gundu, indicated that the pilot project was initiated as a solution to the slow pace of progress being encountered in the enrollment of employees on the Integrated Payroll and Personnel Information System (IPPIS

The statement stated that the strategy of using BVN rather than requiring the physical presence of each member of staff had significantly simplified and accelerated the progress of the project and at a lower cost than previously incurred.

“The use of BVN rather than requiring physical presentation as a first line check on the integrity of our payroll is a cost effective and efficient measure.

“This will accelerate the pace of enrollment on IPPIS as well as identify anomalies which can be flagged for further investigation and review,” Minister of Finance, Mrs. Kemi Adeosun, was quoted as saying in the statement.

According to the minister, since it was started five years ago, only 20 per cent of public employees had actually been enrolled onto IPPIS ?to date, due to various reasons.

Credit: NationalMirror

CBN Extends BVN Registration For Armed Forces

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The Central Bank of Nigeria (CBN) has approved the extension of registration for the Biometric Verification Number (BVN) for men of the Armed Forces.

The Deputy Governor Operations of the CBN, Mr Suleiman Barau, gave a hint about the extention at a budget defense session in the National Assembly on Monday.

He told the Senate Committee on Appropriation that the CBN had received the request of the Defense Minister for an extension of the deadline for the BVN registration.

Mr Barau, who came along with other relevant stakeholders concerned with the proposed 465 billion Naira Supplementary Budget, said that the bank understood the plight of the military operatives.

Earlier, the Minister of Defense, Mr Dan Ali Mohammed, had asked the Senate Committee on Appropriation to intervene and urged the CBN to extend the BVN registration for military operatives.

Credit: ChannelsTV

Why CBN Extended BVN Enrollment

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The Central Bank of Nigeria (CBN) has extended the timeline for Nigerian bank customers in the Diaspora to enroll for their Bank Verification Numbers (BVN) to January 31, 2016.

This is contained in statement by the Bank’s Director, Corporate Communications, Mr Ibrahim Mu’azu, on Monday in Abuja.

It explained that the extension was to enable the customers in Diaspora to complete the enrollment as well as link the BVN to their respective accounts.

It stated that the extension was only for customers in the Diaspora and advised Deposit Money Banks (DMBs) to ensure that the exemption was utilized by the targeted group only.

“The CBN has also expressed satisfaction with the progress made in the implementation of the BVN project, especially for accounts operated by residents of Nigeria.

“However, with the expiration of the Oct. 31 enrollment deadline, the CBN has directed that bank accounts of Nigeria residents without the BVN would henceforth be operated as `no customers initiated debit’.

“That is until the account holders obtain and attach BVNs to the accounts. This means that a customer may not be allowed to withdraw money from his or her account until the BVN has been acquired and linked to the account,” it stated.

The statement clarified that accounts of Nigeria residents without BVN would continue to receive cash and electronic credit inflows and would neither be deactivated nor confiscated.

Credit: Vanguard

BVN Registration Continues, Says CBN

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The Central Bank of Nigeria has announced the continuation of the Bank Verification Number (BVN) registration exercise despite the expiration of the deadline on Saturday, October, 31.

The spokesman of the CBN, Ibrahim Muazu speaking to newsmen yesterday November 1st, said although the exercise still continues, costumers who failed to register before the expiration date will not be able to access their accounts until they do their registration.

He said the registration exercise was generally satisfactory “Deadline was successful because the awareness has been created to millions of customers and the banking hall were empty unlike the June deadline where there were chaos everywhere in the banking halls”

BVN: Over 20.8 Million Customers Enroll 40 Million Bank Accounts, Ends Saturday

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The Central Bank of Nigeria, CBN, said on Thursday that 20,833,635 bank customers enrolled over 40 million accounts in various banks in the country under the Bank Verification Number, BVN, registration exercise as at October 25, 2015.

The BVN registration introduced by the CBN on February 14, 2014 is scheduled to end on Saturday, October 31, 2015 across the country.

Implemented in collaboration with the Bankers’ Committee of the CBN, the BVN was initiated to provide unique identities for all bank customers and other users of financial services in the country.

The unique identity is established by the use of the customers’ biometrics as means of identification in all transactions undertaken with the banks.

At the expiration of the initial estimated 18 months period for the registration after the launch, there was huge apathy among bank customers, who were reluctant to register.

The poor appreciation of the benefits of the BVN resulted in last minute rush in most banking halls across the country towards the end of the June 30, 2015 deadline set by the CBN for enrolment by all customers.

The CBN extended the deadline by four months, till October 31, 2015, to allow more people register.

Credit: PremiumTimes

CBN Names 12 BVN Registration Centres Abroad

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The Central Bank of Nigeria, CBN has named twelve approved centres across Europe, North America, Asia, Middle East and Africa to facilitate the Bank Verification Number, BVN registration exercise for Nigerian banks’ customers in the Diaspora. The approved centres include the ones in Washington DC, Atlanta, New York and Houston, United States of America; Johannesburg, South Africa; Beijing, Guangzhou and Shanghai, China; New Delhi, India; London and Leicester, United Kingdom; and Dubai, United Arab Emirates.

CBN also disclosed that, “Online Integrated Solutions OIS has been engaged to establish stations for data capture and generation of BVN at a fee of GBP30 per transaction, payable by the customer. The company is expected to capture necessary data for online transmission to the Nigeria Interbank Settlement System, NIBSS who would therefore generate the BVN and communicate same to the customer.

Read More: vanguardngr

CBN Begins BVN Registration For Nigerians Abroad

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As part of its efforts towards the full implementation of the BVN project, the central Bank of Nigeria, CBN, in collaboration with key stakeholders in the Nigerian banking industry has finalized the guidelines for the enrollment of Nigerian banks’ customers in Diaspora.

The plan is to roll out this operation in 12 locations in the first phase. These locations are Leicester, New York, Atlanta, Washington DC, Houston, Johannesburg, Beijing, Shangai, Ghuanghzou, Dubai and New Deihi. The second phase will include locations with lower concentrations of Nigerians which will be accommodated through schedule sessions for defied periods.

This was contained in a circular obtained from the CBN website yesterday signed by its director of Banking and Payments System Department, Dipo Fatokun, with Ref: BPS/DIR/GEN/05/009 addressed to all deposit money banks and the general public.

The circular, which provided the framework for the enrollment of Nigerian banks’ customers in Diaspora for bank verification number issuance, stated that Nigerian banks customers in Diaspora could present themselves for enrollment for the BVN without travelling to Nigeria.

The CBN advised customers of Nigerian banks to present themselves to the offshore branches/subsidiaries of any Nigerian deposit money bank, where such facilities have been made available for the enrollment for the BVN.

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Why CBN Extended BVN Registration Deadline

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The Central Bank of Nigeria, CBN), yesterday extended the deadline for customers to enrol for the Bank Verification Number (BVN) by four months till October 31, 2015.

Director, Banking and Payments System Department, CBN, Mr. Dipo Fatokun, announced the extension in a circular to the public.

The circular stated:  “You would recall that as part of its effort in the implementation of the Bank Verification Number (BVN) project, the Central Bank of Nigeria issued circulars stipulating milestones for the successful completion of the project. One of such milestones was that by June 30, all Deposit Money Banks (DMB) customers should have the BVN. Any bank customer without the BVN attached to the account would be deemed to have inadequate requirement with respect to the Know Your Customer (KYC) guidelines.

“It has come to our notice that the BVN registration has elicited tremendous interest from the Nigerian banks’ customers who crowded the bank halls, in order to beat deadline. Furthermore, there is need to give Nigerian banks’ customers in diaspora, ample time to enrol on the programme. The guideline for their enrolment is being finalised and will be released soon.

“In view of the foregoing, it has become imperative for the bank to extend the timeline for all bank customers to have the BVN. The deadline for enrolment is hereby extended from June 30, 2015 to October 31, 2015. This extension is expected to facilitate a smooth completion of the registration exercise.”

Read More: vanguardngr

CBN Rules Out BVN Registration Extension As Deadline Approaches

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The Central Bank of Nigeria (CBN) has ruled out the possibility of an extension of the deadline for customers to register for the Bank Verification Number (BVN) which closes tomorrow, Tuesday, June 30, 2015.

The director, Corporate Communications, CBN, Ibrahim Mu’azu, who spoke to a reporter on the telephone, yesterday, said that the window was open for one and a half years and customers had ample opportunity to register.

According to him, as at the last check over 14 million bank customers have already registered.

Mu’azu assured that not having the BVN will not prevent bank customers from making transactions, such as payments and withdrawals, on their accounts. However, he said that customers using remote access services, such as internet banking and other services online, and even Automated Teller Machines (ATMs), would not be able to transact business.

Meanwhile, the apex bank also directed banks to provide online platforms for Nigerians in diaspora to register. Although the registration closes tomorrow, many customers are still unaware of the BVN or its benefits, especially Nigerians living outside the country but who have accounts with local banks.

Credit: leadership