Sunday, 14 January 2018

Banks will now limit accounts and BVNs related to fraudulent activities


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The Central Bank of Nigeria (CBN) has ordered banks in the country to suspend bank accounts and bank verification numbers (BVNs) of their clients linked to false activities.
Banks will now limit accounts and BVNs related to fraudulent activities

The order is contained in the table published by CBN to run banks in the BVN business.

The executive power was only reached one year after the CBN sent all bank customers in the country to acquire their BVN.

And it seems that some banks have already run their mandate. For example, email from Access Bank to your customers indicates that the bank has already updated its terms and conditions to include the mandate.

E-mail reads in part: "If an unauthorized activity is associated with the work of your account, you agree that we have the right to apply the restrictions in your account and notify the appropriate law enforcement agencies."

See letter in full.





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1 comment:

  1. Yes most fraudsters usually deceive people saying that their bvn has been damaged which is not true,thank God for banks in Nigeria coming up with this decision.

    ReplyDelete

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