Non-extension of BVN registration would’ve killed financial inclusion—BCAN President

The President, Bank Customers of Nigeria (BCAN), Dr. Uju Ogbuika has lauded the Central Bank of Nigeria (CBN) for extending the Bank Verification Number (BVN) registration to October 31, 2015, saying that failure to do this would have hampered the bank’s drive to increase financial inclusion in the country.

In an exclusive interview with Hallmark, he stated that if the apex bank had not extended the June 30 deadline, many bank customers who could not meet the deadline, would have just abandoned their bank accounts.

“The CBN have done the needful.

The time given was not enough considering that the banks were meant to enroll about 30-40 million customers for the BVN.

“If the CBN did not extend the exercise, it would have dealt a serious blow on its financial inclusion efforts.

The bank customers would have cried over their money that would have been trapped, but many of them would have never gone back to the banks,” he postulated.

The BCAN president asserted that with the extension of the deadline of BVN registration, many bank customers would be able to enroll for the exercise.

“This extension will offer those who have not been able to register the opportunity to do so. You know find it difficult to leave their businesses and engage in this kind of exercise,” he explained.

Dr. Ogbuika, therefore, urged Nigerians to avail themselves of this opportunity and enroll for the BVN before the expiration of the October 31, 2015 deadline.

“The BVN exercise is for the benefit of bank customers and the entire system and everybody must ensure its success,” he added.

He also stressed the need for the banks and CBN to intensify publicity about the exercise as many have complained that they did get information about the BVN registration until close to the initial June 30 deadline.

The CBN has stated that bank customers who failed to enroll for the BVN will not be able to use their ATM card or carry out internet banking as they would be restricted to banking hall transactions.