Nigerian deposit money banks (DMBs) would commence the enrollment of customers on the Bank Verification Number (BVN) that was launched over two months ago in Lagos from May this year.
The BVN, a Banker’s Committee project is meant to address the safety of customers’ funds, avoid losses through compromise of personal identification numbers and other criminal activities in the industry.
The acting Head of Corporate Communication, Central Bank of Nigeria (CBN), Mr. Isaac Okoroafor, who disclosed this, explained that BVN would revolutionise the banking system.
In addition, he said the scheme would initially commence in 1,000 bank branches in Lagos.
According to the central bank spokesperson, as at March 31st, the scheme which was launched on February 14, had been deployed to all the head offices of banks.