Category: Banking

BVN: BANKS HIRE LAW FIRM TO APPEAL COURT RULING

Oyetunji Abioye The ongoing issue around a court order asking the Central Bank of Nigeria and 19 Deposit Money Banks to release the details of all accounts without the Bank Verification Number with a view to seizing the funds in them took a new twist on Monday as indications emerged […]

BANKS MAY RECALL LOANS OVER BVN

Banks are bracing for the effects of a likely  forfeiture of funds in accounts without the Bank Verification Number (BVN). Should the government enforce the court order on such accounts, the banks will recall loans from customers; and lay-off staff. Speaking yesterday on the development, former Registrar/Chief Executive, Chartered Institute […]

ANXIETY IN BANKS OVER NOV 3 DEADLINE FOR BVN

Banks were gripped yesterday by the fear of a major liquidity crisis should the government pull out funds belonging to customers without Bank Verification Number (BVN).  The deadline given by the court for such customers to lose their cash is tomorrow. Justice Dimgba Igwe of the Federal High Court, ruling […]