FG Asks CBN To Extend BVN To Microfinance Banks

FG Asks CBN To Extend BVN To Microfinance BanksThe Federal Government has asked the Central Bank of Nigeria (CBN) to extend the requirement for the Bank Verification Number (BVN) to account holders in microfinance banks.

The Minister of Finance, Mrs Kemi Adeosun, stated this in a letter to the CBN Governor, Mr Godwin Emefiele.

She explained that this would help to identify bank accounts which might have been opened and operated for ghost workers by fraudulent syndicates.

The use of BVN for bank transactions is only limited to account holders in the deposit money banks.

The CBN had in September 2016 announced plans to extend the BVN exercise to the microfinance banking sector.

However, the apex bank is yet to implement the extension.

FG To Restructure YouWin Programme

Minister-of-Finance-Mrs-Kemi-Adeosun-PayrollThe Nigerian government is set to begin the restructuring and refocusing of the multi-billion Naira Youth Enterprise with Innovation in Nigeria (YouWin) programme.

Consultations with beneficiaries and other stakeholders on the restructuring has started with the objective of injecting new ideas for its sustainability, a statement by a director with the Ministry of Finance, Salisu Dambatta, said.

The Ministry, which has been running the programme from inception, has scheduled the consultation for July 22 in Abuja, where representatives of the beneficiaries drawn from the six-geo-political zones and other stakeholders would chart a way forward for the programme.

Under the programme, which took off under the administration of former President Goodluck Jonathan in 2011, a total of 18, 000 young entrepreneurs have been trained in various aspects of Small and Medium Enterprises management and business skills.

At least 3, 900 of them, including 1, 200 women, were each given non-repayable take-off grants for businesses of their choice ranging from one million Naira up to a maximum of 10 million Naira.

The statement read: “The third edition of the programme, which is still running with 1,500 beneficiaries, has received the sum of 11.2 billion Naira in funding, and so far grants totaling 7.4 billion Naira have been disbursed to the awardees. In June 2016 alone, the sum of 1.687 billion Naira was paid to 638 awardees”.

The Minister of Finance, Mrs Kemi Adeosun, said that as part of the change agenda of the current administration, the YouWin programme had to be restructured to ensure efficiency, transparency and accountability in investing the capital grants given to the beneficiaries by the Federal Government.

Mrs Adeosun confirmed that all government’s commitments under the YouWIN programme would be fully met, but stressed that due diligence would be carried out on every beneficiary, using tools like the Bank Verification Number (BVN), and before disbursements.

Ogun Govt. To Start Paying Salaries With BVN

BVNThe Ogun State Government has said it would commence payment of workers’ salaries with the Bank Verification Number (BVN) starting from April.

The State Government on Friday, said that the plan would allow government have a grip on the number of workers in its pay roll.

The decision was part of the fall-out of a meeting with the state’s labour leaders which was aimed at finding an amicable resolution to some of the contentious issue which led to an industrial action by the state workers.

The meeting was attended by the Deputy Governor of the state, Yetunde Onanuga and the Secretary to the State Government, Taiwo Adeoluwa among others.

While giving the rationale behind the decision, Mr Adeoluwa maintained that the action was not to witch hunt anyone, but attempts to ensure accountability in government finances.

Speaking on behalf of the labour leaders who attended the meeting, the Chairman of the Joint Negotiating Council, Dare Ilekoya, seized the occasion to demand that membership of cooperative societies be made voluntary by the government.

Deductions from cooperatives is one of the issues in contention by the Labour Unions.

Kwara Governor Vows To Punish Civil Servants Involved In Shady Deals

yorubaThe Kwara State Governor, Abdulfatah Ahmed, says the ongoing Bank verification Number (BVN) process for civil servants in the state will enable the state fish out ghost workers and punish those involved in shady deals.

Governor Ahmed told Channels Television on Saturday that the first phase of the exercise had been concluded with some discoveries.

“Those who did not obtain their BVN will not get their salaries,” the Governor said.

He further assured residents of the State of the determination of his government to complete all ongoing projects.

The Governor also reiterated the readiness of the Federal Government to fix the Nigerian economy for the betterment of the citizens.

While addressing leaders of the All Progressive Congress across the 16 local government areas of the state, Governor Ahmed pointed out that since the local government election was close, efforts should be made to ensure that only those who have the interest of the masses at heart are chosen.

Kwara Civil Servants Collecting Multiple Salaries Face Punishment

Abdulfatah-Ahmed kwara State governor The Kwara State Governor, Abdulfatah Ahmed, has vowed to prosecute any civil servant found collecting multiple salaries in the state at the end of the on-going Bank Verification Number (BVN) alignment exercise.

Governor Ahmed said “it is criminal and ungodly for anyone to be collecting multiple salaries from the same source while some of our brothers and sisters in parastatals and institutions are rarely able to collect their salaries on time”.

A spokesman for the Governor, Dr. Muideen Akorede, explained that the governor reiterated his determination to check how it was possible for multiple names to enter into one BVN.

“We must check what happened because if we don’t know what happened we would not be able to check it in future,” he quoted the Governor as saying.

The Governor assured Kwara State indigenes that the on-going exercise would lead to the emergence of a robust and properly designed Kwara State database for the workers of the state.

He added that the scheme would also give the management information of entry into and exit from the service and other issues pertaining to the service.

Kwara Government Ties Salary Payment To BVN

BVNThe Kwara State Government has directed state and local government workers and pensioners that are yet to provide their Bank Verification Number (BVN) for the ongoing staff verification exercise to do so within seven days or risk non-payment of salary.

Governor Abdulfatah Ahmed gave the directive during a meeting of the committee on Personnel Database Development.

He said the government had no intention of withholding any worker’s salary without justification.

A statement by the Senior Special Assistant on Media to the Governor, Dr Muideen Akorede, said the affected workers and pensioners would still be credited with their salaries and pensions but would not be able to access the money until they obtained their BVN.

Governor Ahmed, who is also the chairman of the committee, explained that the unique bank numbers were necessary for preliminary verification of workers and pensioners on the state and local government councils’ payroll.

He pointed out that at this stage of the verification, those without valid BVN could not yet be designated as ghost workers.

Governor Ahmed said the intention behind the personnel database system was to give the government an accurate picture of the state and local government councils’ payroll and ensure that only those properly employed received salaries and pensions.

Fake BVN

In his remarks, the alternate Chairman of the Committee, Isiaka Gold, stated that of the 82,642 workers so far verified by the committee, only 49,579 had valid BVN while 124 were discovered to have fake BVN.

He said that the first level verification also revealed 324 individuals who were linked to 659 multiple accounts.

Mr Gold, who is also the Secretary to the State Government, therefore, urged workers and pensioners that were yet to submit their BVN to do so within seven days or risk having their payments withheld.

He called on workers who were properly recruited by the state and local governments to remain calm, while assuring them that the ongoing verification exercise would not affect their salaries and jobs.

Tech Trends: Securing Your Bank Verification Number (BVN)


BVNThis edition of Tech Trends shares a few tips on how to keep your BVN safe and secure.

This remains an important issue because experts have often said that each problem solved with a technology marks the beginning of a new challenge.

This new BVN challenge requires that regulators, security agents and individuals stay vigilant.

The video reveals one of the tricks used by fraudsters to defraud unsuspecting bank customers and how to avoid falling prey to their antics.

NIMC Set To Commence Integration Of BVN

NIMCThe National Identity Management Commission in Nigeria (NIMC) is set to commence the integration of the Bank Verification Number (BVN) into the National Identity database.

At a media briefing in Abuja on Friday, the Director-General of NIMC, Mr Chris Onyemenam, said that the planned integration was borne out of the need to obey a presidential directive to harmonise various databases.

A hamonisation committee has been set up to facilitate the integration process while the NIMC is collating the BVN data from the banks.

He assured Nigerians that the system would greatly enhance the work of security agencies and also provide government with the needed data for planning.

E-banking Industry Heads Asked To Address BVN Challenges

Governor Emmanuel Charges E-banking Heads On BVN DifficultiesThe Governor of Akwa Ibom State, Udom Emmanuel, has asked a Committee of E-banking Industry Heads to address difficulties faced by bank customers as a result of the executive complications arising from the introduction of the Bank Verification Number (BVN).

Governor Emmanuel gave the charge when executive members of the Committee of E-banking Industry Heads met with him at the State’s Government House in Uyo on Monday.

He told the meeting that many bank customers’,  who had gone through the BVN registration before the October deadline, experienced difficulties accessing their accounts as a result of the BVN regime.

Cashless Policy

Stressing the importance of E-payment to the success of a developing economy such as Nigeria, the Governor also urged banks operating in the state to partner with the government to ensure a crime-free business environment.

The Chairman of the Committee of E-banking Industry Heads, Ayotunde Kupuliyi, said that the goal of his committee made up of Heads of Electronic Banking in Nigeria was to foster the success of electronic payments.

Emphasising that the cashless policy cannot work without the cooperation of banks and the public, Kupuliyi said that his committee’s role was to educate the public on the benefits of the cashless policy.

The visit, he added was a pre-visit to a planned retreat by the committee, billed to hold in the state from December 3 to 4, 2015.

The meeting was also attended by members of the State Executive Council.

CBN Launches Biometric Customer Registration

The Central Bank of Nigeria and the bankers committee have launched the second phase of the Bank Verification Number (BVN) project.

The scheme will improve and strengthen the ‘Know Your Customer’ process of the banking industry.

The BVN is a biometric authentication of bank customers using Point of Sale and Automated Teller Machines. It is designed to ensure the safety of customers’ funds and avoid losses through compromise of Personal Identification Numbers (PIN).

At the launch in Lagos, the CBN Governor, Sanusi Lamido Sanusi, said that all commercial banks were expected to have captured biometric details of their customers nationwide in the next 18 months.

He noted that the CBN would start to issue circulars to banks to inform their customers to come in and register for the biometric authentication within one week as it would allow banks to enrol and verify the identity of each customer from any point of transaction device.

The CBN Governor also assured Nigerians that the new system, which was also expected to address the issue of customers forgetting their Personal Identity Number, would attract no charges to the customers.

Two banks have been selected to run the pilot of this project which will start from February 17 to March 31.