There are indications that only nine out of every 10 Nigerians have
registered for their Bank Verifi cation Number, BVN, introduced by the
Central Bank of Nigeria, CBN, while 88 per cent of banked Nigerians
believed that the BVN will be benefi cial to them.
According to the poll conducted by NoIPolls Limited, it revealed that banked Nigerians have a positive perception ,72 percent, towards the BVN as they believe the BVN will improve ‘account security’, ‘control fraud/corruption’ and ‘monitor transaction and cash fl ow’ in Nigerian banks amongst other reasons.
On the other hand, some Nigerians with opposite views indicated that the BVN is not important to them in any way because ‘they do not know the aim’ of the exercise, and that ‘it may enhance fraud’ among other reasons.
More fi ndings revealed that the vast majority about 88 percent of the respondents interviewed showed awareness of the BVN initiative, and 86 percent of banked respondents claimed that they have registered for the BVN with their respective banks while 14 percent of the respondents haven’t complied with the policy and the majority of respondents in this category mostly indicated they ‘haven’t had time’ to do so, while 9 percent claimed they were discouraged by the long queues in banks during the exercise.
However, 47 percent of respondents who have registered for a BVN confi rmed they have linked their BVN with their other bank accounts, whereas some respondents who have registered their BVN have either not completely linked it to all their other accounts or have not linked it to their other accounts at all.
This fi nding supports the report from the Nigeria Interbank Settlement System, NIBSS, which disclosed that only 14.4 million BVNs have been linked to other bank accounts out of the total of 21 million BVN holders in the country.
Finally, while some Nigerians have clearly indicated the importance of the BVN to them as banked citizens, it is pertinent that more sensitization programs are carried out by stakeholders, on the importance of the BVN in the Nigerian banking system. This should be done with special consideration given to Nigerians who have low access to information, in order to ensure complete compliance to the BVN policy.
According to the poll conducted by NoIPolls Limited, it revealed that banked Nigerians have a positive perception ,72 percent, towards the BVN as they believe the BVN will improve ‘account security’, ‘control fraud/corruption’ and ‘monitor transaction and cash fl ow’ in Nigerian banks amongst other reasons.
On the other hand, some Nigerians with opposite views indicated that the BVN is not important to them in any way because ‘they do not know the aim’ of the exercise, and that ‘it may enhance fraud’ among other reasons.
More fi ndings revealed that the vast majority about 88 percent of the respondents interviewed showed awareness of the BVN initiative, and 86 percent of banked respondents claimed that they have registered for the BVN with their respective banks while 14 percent of the respondents haven’t complied with the policy and the majority of respondents in this category mostly indicated they ‘haven’t had time’ to do so, while 9 percent claimed they were discouraged by the long queues in banks during the exercise.
However, 47 percent of respondents who have registered for a BVN confi rmed they have linked their BVN with their other bank accounts, whereas some respondents who have registered their BVN have either not completely linked it to all their other accounts or have not linked it to their other accounts at all.
This fi nding supports the report from the Nigeria Interbank Settlement System, NIBSS, which disclosed that only 14.4 million BVNs have been linked to other bank accounts out of the total of 21 million BVN holders in the country.
Finally, while some Nigerians have clearly indicated the importance of the BVN to them as banked citizens, it is pertinent that more sensitization programs are carried out by stakeholders, on the importance of the BVN in the Nigerian banking system. This should be done with special consideration given to Nigerians who have low access to information, in order to ensure complete compliance to the BVN policy.
Comments
Post a Comment