….Launches new portal to address cases of multiple accounts linked to BVNs.
The Interim Administrator of the Presidential Amnesty Programme (PAP), Maj. Gen. Barry Tariye Ndiomu (rtd) has approved payment for not less than seven hundred and seventy-five (775) delegates with Bank Verification Number (BVN) issues, whose accounts were recently put on hold.
Maj. Gen. Ndiomu (rtd) has also expressed serious concern over the BVN issue and had earlier assured that the BVN anomaly which has been there before his assumption of office will be tackled once and for all.
Those affected delegates are urged to remain calm as the verification committee has already cleared a minimum of 775 cases who are already receiving payments following an approval by the Interim Administrator.
It is important to note that the verification committee is working in accordance with the provisions of the regulatory framework put in place by the Central Bank of Nigeria which in collaboration with the Bankers’ Committee, had earlier deployed a centralised Bank Verification Number (BVN) System in February 2014 as part of an overall strategy of ensuring effectiveness of “Know Your Customer” (KYC) principle to promote safe, reliable and efficient payments system.
The BVN system is to address increasing incidence of frauds and to enhance public confidence in the banking industry.
The process is aimed at using BVN to deter, prevent, detect and mitigate the risks of fraud in the banking industry and every customer is meant to have a personal BVN number linked to his or her bank account giving each customer in the Nigerian banking industry, a unique identifier number.
SA Media to the Interim Administrator