TheCable

The Central Bank of Nigeria (CBN) has engaged the services of Avante International Technologies to help ease the Bank Verification Number (BVN) registration process outside the country.

The apex bank also extended registration of BVN by five months, to December 31, 2016.

In a circular signed by Dipo Fatokun, director of CBN banking and payment systems, the bank said Avante will join OIS and VFS in ensuring all customers abroad are covered in the know your customer exercise.

“The Bank observed the need to expand geographical spread of registration centres, therefore, a new consultant, Avante International Technologies Inc, was engaged to join OIS and VFS in registration of Nigerian bank customers in diaspora,” the circular read.

“The combined effort of the Consultants and some Nigerian banks abroad has greatly accelerated the enrolment of this category of banks’ customers.

“Consequently, to ensure that all Nigerian bank customers in diaspora are enrolled, the BVN enrolment for Nigerian banks’ customers in Diaspora is hereby reopened for the next five (5) months, that is 1st August to 31st December 2016.

“Please note that from 1st January 2017, all Nigerian Bank customers in Diaspora should have the BVN attached to their accounts. Any Bank customer without the BVN will be deemed to have ‘Inadequate KYC’ and such an account will be operated as a ‘NO CUSTOMER INITIATED DEBIT’ account until the account holder obtains and attached a BVN to the account.”