Confusion As Nigerians In UK Pay N10,000 For BVN

Nigerians in London, United Kingdom, have expressed frustration over the compulsory payment of £30 (about N10, 000) for the registration of the Bank Verification Number, as directed by the Central Bank of Nigeria.

Apparently sad over their plight, some of them during the week stormed the Nigeria High Commission in London to protest against the directive of the apex bank. Others took to the social media to vent their anger.

The CBN had recently extended the deadline for the BVN registration from June 30 to October 31, 2015 as disclosed in a circular issued to all deposit money banks operating in the country.

The Director, Banking and Payment Systems Department of the CBN, Mr. Dipo Fatokun, said the extension became imperative in order to give bank customers more time to participate in the enrollment exercise.

The circular had read in part, “It has come to our notice that the BVN registration has elicited tremendous interest from the Nigerian banks’ customers who crowded the banking halls in order to beat the deadline.

“Furthermore, there is the need to give Nigerian banks’ customers in the Diaspora ample time to enrol on the programme. The guideline for their enrolment is being finalised and will be released soon.”