6,047 BVN on watchlist over fraudulent activities – CBN

Marcus Amudipe
Marcus Amudipe

 

Findings have revealed that the Central Bank of Nigeria has placed at least 6,047 Bank Verification Numbers of bank customers under its watchlist.

According to The PUNCH, this was contained in the CBN Financial Stability June 2022 report published in December 2022.

11,871 BVNs have been added to the watch list this year as deceased individuals, according to the study.

In order to determine compliance with the Regulatory Framework for BVN Operations and Watch-List for the Nigerian Banking Industry during the review period, the report revealed that the apex bank evaluated 28 banks as well as the Nigerian Interbank Settlement System.

It stated that some breaches were discovered by the assessment, and that consequently, regulatory actions were taken.

The number of enrolled BVNs increased to 54.65 million, according to the data, from 2.72 million in the first half of this year.

The study also mentioned that there were 130.57 million BVN-linked accounts out of 148.46 million active accounts.

The report read in part, “Also, 2,722,518 BVNs were enrolled, bringing total BVN enrolment to 54,651,086, reflecting an increase of 5.24 per cent over 51,928,568 enrolments at end-December 2021.

“The number of accounts linked with BVNs was 130,569,656 out of 148,462,947 active customer accounts, while the number of watch-listed BVNs associated with fraud and deceased persons stood at 6,047 and 11,871, respectively.”

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