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CBN asks banks to accept travel documents, refugee ID for transactions

CBN asks banks to accept travel documents, refugee ID for transactions
February 10
21:53 2021

The Central Bank of Nigeria (CBN) says banks must accept machine readable travel document, and refugee identity card as a means of identification from refugees and asylum seekers when conducting banking transactions in the country.

CBN, in a statement, on Wednesday, said this is to address the challenges faced by refugees and asylum seekers when conducting transactions.

” To address these concerns, all banks and other financial institutions are referred to the provision of the CBN AML/CFT Regulations 2013(as amended) on customer due diligence, especially Regulation 40 and  Regulation 80, and to note that the Machine Readable Convention Travel Document (MRCTD) issued by the Nigerian Immigration Service; and the Refugee Identity Card issued by the National Commission for Refugees, Migrants and internally displaced Persons are adequate as means of identification for banking transactions.”

“Banks and other financial institutions are also required to continue to ensure that effective customer due diligence policies and procedures are implemented to combat money laundering, financing of terrorist and proliferation of weapons of mass destruction.”

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