BVN: CBN deploys 2,000 machines to banks in Lagos


…Public enlightenment kicks off soon

 By BLAISE UDUNZE In a move designed to fast track the pilot scheme of Bank Verification Number (BVN), the Central Bank of Nigeria (CBN) said it is deploying over 2,000 capturing machines to 1,000 branches of 1,401 branch networks targeted in Lagos State.

In an exclusive telephone interview with Daily Sun, the spokesman of the CBN, Mr. Isaac Okorafor, disclosed that with the machines being deployed to banks for customers’ enrollment, public roll out in Lagos would form the basis for taking the registration exercise to other parts of the country later in the year.

He explained that 42, of 48 bank branches for the roll out in the pilot phase, have been covered, adding that over 2,000 bank staffers have successfully enrolled in the scheme.

Okorafor said the commencement of the exercise for members of the public would begin with public enlightenment, just as the apex bank did during the cashless programme.

The scheme is coming up almost four months after the former governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, inaugurated the project. The biometric registration exercise is expected to lead to the issuance to all bank customers across the country, a uniform and unique identification number called Bank Verification Number (BVN). The BVN will help to prevent identify theft, fraud and enhance credit advancement to customers.

The Nigeria Inter-bank Settlement System Plc is coordinating the project, sponsored by the Bankers Committee.

He said, “already, the project is ongoing in some bank branches. We are moving over 2,000 machines to the various banks; we will begin soon to roll out to members of the public, just as we did during the cashless programme. Also, we have successfully enrolled 2,000 bank staff.”

The CBN spokesperson had initially disclosed: “You know our people are not very educated; they are resistant to anything that has to do with money. However, what we intend to do is to start the public roll out here in Lagos with public enlightenment of customers, which has more of the bank branches.

“We are starting with at least 1,000 bank branches. After the enrolment of account holders, we will look at the challenges that are there, how to tackle those challenges and the wisdom we get from there will help us to begin to plan a roll out beyond Lagos.”

Okoroafor had said that a number of challenges confronting the banking sector, ranging from fraud to low level of literacy in the country, led to the emergence of the BVN project.

He pointed out that a significant number of people could not key into the centralbank’s cashless policy due to illiteracy. He, however, noted that the BVN would enable a bank customer to have a single identity within the financial system.

The CBN spokesperson explained: “What is important is the number; BVNs enable a single person to have a single identity within the financial system. We are out with the BVN to achieve a number of things – to ensure that customers’ identities are not stolen; people who cannot read or write could use their biometrics (fingerprint) to make transactions and enable banks to identify customers. The essence of the verification number is to ensure that your identity is not stolen.”

24 yrs boy started importation with N10,450. Read his story here!

Men, forget Viagra. Use these to increase your manhood size & strength

How to start a profitable importation biz with as low as N10,000 only

How watermelon made a Benin boy over N1,000,000 in 73days

Superb premature ejaculation spray. You 'll last 30minutes+

How to earn 40k-200k monthly from football matches almost on autopilot

3 Things I did to cure premature ejaculation after my wife left me

Small manhood and premature ejaculation limited my performance for 4yrs!

7 Simple yet amazing steps to earn over N200,000/monthly. Click here

How to get flat belly in just 9 days. Click here!

Earn N50,000 extra every weekend predicting football matches... Click here!

Click here now if you are interested in earning at least N7,500/daily

How a young Nigerian generate over N1,000,000/month via digital marketing

Generate as much as 150k-250k profit from your football betting investment

Incredible special offer! Amazing business that earns you N200,000/month

Exposed! How 23yrs Ijebu boy makes N270,000 with Facebook. Read story!

Work from home and get paid at least $1000 weekly!

Secret Online Business that pays you N25,000 weekly income exposed!

How we make N300,000 every 6weeks selling 10k catfish fingerlings at N30 each

Free e-book reveals how to get visa easily. Click here!


About Author

Leave A Reply