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CBN Sets Deadline On Dead Customers’ BVN

CBN Sets Deadline On Dead Customers’ BVN

The Central Bank of Nigeria (CBN) has instructed all banks and other financial institutions to submit Bank Verification Number (BVN) of dead customers to the Nigeria Interbank Settlement System (NIBSS) within 24 hours of confirmation. Information Guide Nigeria

According to THE NATION, this information is contained in the BVN guideline issued by the Central Bank and signed by its Director, Payment System Management, Musa Jimoh.

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The circular read, “Report the BVNs of confirmed deceased customers to NIBSS for designation as “Deceased” on the BVN database within 24hrs of confirmation”. Jamb Results

With clearance from the Director, Risk Management Department of CBN to delist the BVN from the watch-list, the banks are also expected to use the watch-list report submitted by participants and duly endorsed by the Managing Director/CEO of the Institution.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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