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CBN To Freeze Accounts Without BVN

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The Central Bank of Nigeria has directed the Deposit Money Banks in the country, to submit list of customers and bank accounts without bank verification number.

The CBN in a letter asked the 19 DMBs to comply with the directive with immediate effect.

A source confirmed to the Punch that majority of DMBs in the country have already complied with the directive from the CBN.

The source further revealed that the DMBs are trying to delay the process so as to frustrate the Federal Government’s plan to seize monies in the bank accounts of customers without the BVN.

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A Federal High Court in Abuja had on October 17 ordered the forfeiture of all monies in bank accounts owned by corporate organisations, government agencies and individuals without the BVN.

The forfeiture order, which was issued by Justice Dimgba Igwe, while ruling on an ex parte application filed by the Federal Government through the Office of the Attorney General of the Federation, is not final yet.

The owners of the accounts had 14 days to claim ownership of same and show cause why the amounts in them should not be permanently forfeited to the Federal Government.

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The court also ordered the banks to advertise the accounts without the BVN in a widely circulated national newspaper as notice to those who might have any interest in them.

The judge then adjourned the matter until November 16.

However, the 19 DMBs are appealing for an extension of time to appeal the court order.