YOU CAN CLOSE YOUR ACCOUNT WITHOUT BVN

Nigerians who are still having issues over non- possession or linkage of their Biometric Verification Number (BVN) to their accounts can now close the accounts if they want to.
According to a circular dated February 24 but posted on its website on the 25th, banks have been asked by the Central Bank to close such accounts if customers so desire but payment instrument must be issued in the name in which the account was opened.
Besides, says the circular signed by Dipo Fatokun, Director Banking and payments department, if the amount in the affected account is more than N10m, the bank must seek and obtain clearance from the Nigerian Financial Intelligence Unit (NFIU) before such accounts can be closed and the balance electronically transferred to another account.
However, the main thrust of the circular was on directives on how to resolve issues still outstanding from the introduction and use of BVN.
For example, banks have been directed to correct date of birth on BVN record ONCE provided the customer presents supporting documents evidencing the correct date of birth.
Customers can also now change names due to marriage but again, provided supporting documents like marriage certificate and affidavit are presented.
Also banks are now to effect minor changes in names due to misspelling as in for example Osikoya being spelt Oshikoya but there must also be supporting documents like international passports.
Even names that are totally or partially different can also now be changed provided supporting documents are produced to show change of name. However, in this instance banks are expected to report the name change to the NFIU as a suspicious transaction.
Finally, the CBN insists that the customers name on the BVN data base must be the same in all his or her accounts across the industry.
Also the CBN directs that resolution of BVN issues must be within maximum of five days after the customer submits all required documents.