The Governor of the apex bank is also
expected to explain why bank customers
should be made to disclose their BVN to
third parties, especially while transacting
businesses with Bureau de-Change (BDC)
operators, as contained in the new
guidelines.
A motion on the matter was raised by
Honourable Abubakar Nuhu, as a matter of
urgent public importance.
Reading an excerpt from the guidelines, he
said: “Till date, 2,765 BDCs have been
approved by the CBN. Also know that all
customers desiring foreign exchange through
any channel, will be forced to give their
BVN to those with whom they are doing
transactions.
“Further note that the CBN shall from
December 1, 2015, penalise foreign exchange
dealers that do not provide the BVN of any
customer that do business with them”.
The lawmaker expressed worries that the new
guideline would pose more problems to
Nigerians.
“Concerned that the attempt to use BVN to
stem money laundering will make the vital
financial records of all Nigerians easily
accessible to dubious people,” he said.
Mr Nuhu further expressed worries that in an
era of internet fraud, the CBN’s directive
would endanger Nigerians’ hard earned
money and cause even more danger than it
was meant to solve.
The motion was, however, adopted
unanimously and referred to the House
Committee on Banking and Currency for
further legislative action.
