Banks to establish temporary watchlist for BVNs implicated in suspected fraud
“A BVN may remain on this temporary Watchlist for a maximum period of twenty-four (24) hours, during this period, the BVN owner shall be contacted to provide clarification regarding the identified transaction(s).”
Biometrics, BVN and Nigeria
THE introduction of Biometric identification was to stop different kinds of fraud. There were too many fictitious bank accounts; inactive bank accounts are raided by the employees. To stop this, the bank instituted a regime of dormant accounts.
BVN: GIABA backs freezing of accounts over terrorism financing
ABUJA—The Inter-Governmental Action Group Against Money Laundering in West Africa, GIABA, said, yesterday, it was in support of Federal Government’s bid to freeze all bank accounts without a Bank Verification Number, BVN.
BVN: UNHCR, AUN train 11,652 IDPs
Maiduguri—The United Nations High Commissioner for Refugees, UNHCR, has, in partnership with American University of Nigeria, AUN, trained about 11,652 people, mostly returnee internally-displaced persons, IDPs, in the North-East states of Borno, Yobe, Adamawa, Gombe, between January and November.
Terrorism financing/Money laundering: GIABA backs freezing of accounts without BVN
The Inter-Governmental Action Group against Money Laundering in West Africa, GIABA, on Thursday, said it was in support of bid by the Federal Government of Nigeria to freeze all bank accounts without a Bank Verification Number, BVN.
Court vacates interim forfeiture order on accounts without BVN
The Abuja Division of the Federal High Court, Wednesday, varied the orders it made on October 17, which directed 19 commercial banks in the country to freeze all accounts without the Bank Verification Numbers, BVN.
