Scribd
Upload
105 views1 page

Addendun Form

The document provides updated guidelines from the Central Bank of Nigeria on the Bank Verification Number (BVN) system, including customers' responsibilities to provide accurate information and report any changes or suspicious activity, as well as rules around correcting BVN records and banks' responsibilities when closing accounts. Banks now have the right to restrict accounts or report to law enforcement if any breaches are associated with an account. Customers are asked to read, provide identification details, and sign the form to acknowledge the new BVN guidelines.

Uploaded by

jeshurunokhipo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
105 views1 page

Addendun Form

The document provides updated guidelines from the Central Bank of Nigeria on the Bank Verification Number (BVN) system, including customers' responsibilities to provide accurate information and report any changes or suspicious activity, as well as rules around correcting BVN records and banks' responsibilities when closing accounts. Banks now have the right to restrict accounts or report to law enforcement if any breaches are associated with an account. Customers are asked to read, provide identification details, and sign the form to acknowledge the new BVN guidelines.

Uploaded by

jeshurunokhipo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

UPDATE TO ACCOUNT OPENING FORMS

Read Through and Kindly complete in CAPITAL LETTERS

Revised Regulatory Framework for Bank Verification Number (BVN) Operationstry


Please be informed that the Central Bank of Nigeria released a revised regulatory framework for Bank Verification Number
(BVN) operations via circular No PSM/DIR/PUB/CIR/01/027 dated October 12, 2021.

Kindly find below what is required of our customers, where it is applicable:

Customer’s role and responsibilities:

Ÿ To provide accurate biometrics and biodata;


Ÿ Customer's name on the BVN database shall be the same in all his/her accounts, across the banking industry;
Ÿ Report all suspicious or unauthorized activities on their accounts/wallets to their banks;
Ÿ Report any changes in their biometric (e.g. loss of a finger) and biodata

Rules on changes on BVN records:

Ÿ Correction of date of birth on BVN record shall only be allowed once, with supporting documents, evidencing the correct
date of birth;
Ÿ Change of Name due to marriage/divorce/religion shall only be allowed with supporting documents, such as marriage
certificate/divorce certificate/affidavit, newspaper adverts, etc.;
Ÿ Minor correction of name, due to misspelling shall only be allowed, with supporting documents and regulatory forms of
identification e.g. international passport, driver’s licence and NIMC ID, showing the correct name;
Ÿ Change of names that are totally different or partially different shall only be allowed after the customer has produced
supporting documents to the change of the name and Nigerian Financial Intelligence notified. However, if it is a total change
in name, the bank shall await receipt of NFIU clearance to effect the required change.

Bank’s responsibilities

Ÿ Customers who wish to close their accounts/wallets, shall be allowed to do so. Where the account/wallet is not linked with
the BVN, a payment instrument shall be issued in the same name in which the account/wallet was opened.
Ÿ In cases where the balance on the account/wallet is more than what is legally allowed on a paper instrument (i.e. N10
million) the bank shall seek and obtain clearance from the NFIU before such accounts/wallets can be closed and the
balance transferred electronically to another account.

Also the circular states that If a breach is associated with the operation of your account/wallet, you agree that we have the right
to apply restrictions to your account/wallet and report to appropriate law enforcement agencies in line with extant laws.

Account No.

Title Mr. Mrs. Others (Specify)

Name
(Surname) (First Name) (Other Names)

Signature D D M M Y YY Y Y

Signature D D M M Y YY Y Y

You might also like