20 August 2015, Abuja – The Central Bank of Nigeria has issued modalities for enrollment for Bank Verification Number by Nigerian banks’ customers in diaspora.
The CBN Director of Banking and Payments System Department, Dipo Fatokun disclosed that interested customers could present themselves for enrollment for the BVN from any part of the world without necessarily travelling to Nigeria.
Apart from presenting themselves to the offshore branches/subsidiaries of their Nigerian Deposit Money bank, DMB, for the enrollment, Mr. Fatokun said a consultant, Online Integrated Solutions, OIS, has been engaged to establish locations for data capture and generation of BVN at a fee of £30 or equivalent per transaction from the customers.
The director said Nigerian banks abroad were expected to capture necessary data, generate a BVN and communicate same to their customers, who were expected to forward the assigned BVN to their banks for linkage with their accounts.
“A web portal to achieve the linkage to bank accounts has been developed and deployed, while the process of such linkage will be made available by NIBSS (Nigeria Inter Bank Settlement System) to all those enrolled abroad,” Mr. Fatokun explained.
He directed all DMBs to ensure that all their branches/subsidiaries abroad worked closely with the NIBSS to ensure seamless implementation of the arrangement to ease the difficulties currently being faced by customers abroad over the enrollment process.
On the appointed consultant, Mr. Fatokun said it was expected to take the responsibility of capturing the necessary data for online transmission to NIBSS to generate the BVN and communicate same to the customer.
Where the communication from the NIBSS was not received within 48 hours of enrollment, Mr. Fatokun said the customers may equally approach OIS for the BVN, while they would be expected to, thereafter, forward their BVNs to their banks for linkages with their accounts.
He said the CBN has concluded plans to roll out the first phase of the operations in 12 locations, with possible dates and locations the exercise was expected to commence attending to customers.
The locations include London, which is already ongoing at Fleet Street; Leicester (The Peplum Centre); Johannesburg (Rose Bank); Atlanta at Holcomb Bridge Roswell, from September 14. The schedule for New York and Houston roll out are yet to be determined.
The roll out in Beijing would be at Kun Sha Building in Chaoyang District; Shanghai (Catic Building in Jing’an District; Guagzhou (R&F To-Win Building in Tianhe District) and New Delhi at Institutional Area, Chanakyapuri, all on September 7, while the roll-out in Dubai is planned to begin from August 19 at Platinum Tower Cluster. Lake Towers, and Washington DC at Park Lawn Drive, Rockville from August 24.
The second phase of the roll-out, the director said, would include locations with high demand for the service based on online feedback received, while remote locations with lower concentrations of Nigerians would be accommodated through scheduled sessions for defined periods.
*Bassey Udo – Premium Times