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.

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.

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.

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.

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.

ASSOCIATION of Bureaux De Change Operators of Nigeria (ABCON) in collaboration with the Nigeria Interbank Settlement System (NIBSS) has carried out a comprehensive sensitization of Bureaux de Change (BDCs) on usage and deployment of Bank Verification Number (BVN) Validation Portal provided by NIBBS.

BANK Customers    Association of Nigeria (BCAN) has faulted the move by the federal government to take possession of money in all the 15.3 million bank accounts yet to enrol for the Biometric Verification Number (BVN).

An economic expert, Charles Nwekeaku, has advised the Federal Government to follow due process in getting the forfeiture of monies in accounts without Bank Verification Numbers(BVN) to the government.

Senior Special Assistant to the President on Foreign Affairs and Diaspora,  Mrs Abike Dabiri-Erewa, has appealed to the Central Bank of Nigeria, CBN, and Attorney-General of the Federation, AGF, to put modalities and logistics in place for Nigerians in the Diaspora to obtain their Bank Verification Number, BVN, to avoid forfeiture of their savings in their respective bank accounts.

Some residents of the Federal Capital Territory (FCT) have expressed disparate views over the order of interim forfeiture made by Justice Nnamdi Dimgba of the Federal High Court, Abuja directing that 46 million bank accounts not covered by the Biometric Verification Number (BVN) but domiciled in 19 Banks be taken over by the federal government