CBN Demands List of Accounts Without BVN From Banks

CBN Demands List of Accounts Without BVN From Banks

In furtherance of a recent order of court granting the interim forfeiture of all sums held in accounts without Bank Verification Numbers (BVN), the Central Bank of Nigeria (CBN) has written a letter to all banks in the country, asking them to submit lists of affected customers and bank accounts.

The court had on October 17 also ordered the CBN and 19 deposit money banks in the country to freeze the accounts while asking the banks to come before it to show reasons why the monies should not be permanently forfeited to the government.

An official of one of the affected banks told newsmen on Sunday that the banks received the letter demanding lists of customers and bank accounts without BVN shortly after the court order was given. The official who spoke on the condition of anonymity added that many of the banks had compiled the lists as directed.

There are however indications that the banks are equally taking steps to prevent the final forfeiture of the monies in the accounts without BVN by lobbying the Office of the Attorney General of the Federation to back down on the plan to seize the affected sums.

The decision of the AGF in the above regard will affect the court proceedings on November 16 when the case comes up for hearing of the substantive application for the forfeiture of sums in the accounts without BVN.

The 19 banks affected by the court order have reportedly engaged the services of a top law firm to address the matter and approach the court for an extension of time to appeal the court order.

Some of the banks may however have taken steps to comply with CBN’s demands according to their officials. Spokesperson for First Bank of Nigeria Limited, Mr Babatunde Lasaki, said, “The bank will do what needs to be done on the BVN matter and we will comply with all regulatory requirements on the matter.”

The Head, Corporate Communications, Skye Bank Plc, Mr Rasheed Bolawinwa, is similarly quoted by the Punch to have said, “As a regulatory-compliant bank, Skye Bank has complied with the expectations of the regulator concerning the issue of the BVN.