Fear Grips CBN Covid-19 Loan Applicants In Enugu Over BVN Safety

Many applicants in the ongoing Covid-19 interest-free loans in Enugu State, weekend, expressed fear over the revelation of their biometric verification numbers during the registration for the scheme.

They fear that disclosing their BVNs might expose them to bank account hacking and other financial crimes.

According to Uche Ugbuagu, “I applied for the loan. Somebody did it for me because I don’t have the phone that can do it. My fear is that I submitted my BVN to the man who I don’t really know. My friend told me about it, and I followed him to meet the person who did it.

“He was busy doing for many people and collecting N400 each. Who knows if he will use our BVNs to do other things?”

Another applicant, Oliver Idoko, said, “I don’t care what happens later. The loan is real. It is about N500, 000 to be repaid after one year moratorium. I don’t have any money in my accounts, so I don’t fear any possible hacking.”

A financial expert, Dr Paulinus Mba, advised applicants to be cautious of disclosing their BVNs to people who they do not trust.

He said, “Introducing BVNs is the greatest economic achievement in this country because it reduced corruption. The CBN warns also that such should be protected. Inasmuch as we struggle to benefit from various federal government micro-credit policies, we should not expose our bank BVNs to dangers.

“Anybody who knows your BNV can be injurious to you. Let all be computer literate as much as possible. If otherwise, we should endeavour to seek the services of people we trust.”

THE WHISTLER reports that the credit facilities are for households and agric-business, small and medium enterprises investment scheme. It is a Central Bank of Nigeria N50bn intervention fund towards alleviating the impacts of the COvid-19 pandemic in the country.