CIBN calls for caution before implementing forfeiture of accounts without BVN

Officials of the Chartered Institute of Bankers of Nigeria (CIBN) have called on the Nigerian government to apply caution, before implementing the order in respect of forfeiture of accounts not covered by the Biometric Verification Number (BVN).

The President of the institute, Professor Segun Ajibola, who made the call in Akure, the Ondo State capital, when he led members of the association on a visit to the state, said grey areas should be addressed before the order is fully implemented.

TVC’s Ayodeji Moradeyo reports that members of the Chartered Institute of Bankers of Nigeria (CIBN) are in Ondo
State to meet minds with banking stakeholders.

One of the places visited by members of the institute is the state house, where they met with Governor Oluwarotimi Akeredolu.

The President of the institute, Professor Segun Ajibola, said the association will continue to ensure observance of ethical standard and professionalism among practitioners of the banking profession in Nigeria.

Professor Ajibola urged the federal government to ensure that grey areas are addressed before the forfeiture of accounts not covered by the Biometric Verification Number (BVN).

On his part, Governor Akeredolu stressed the need for experts in the sector to handle financial matters, for efficiency and accuracy in public and private organisations.

The team also visited the State branch of the Central Bank of Nigeria (CBN), where it met with officials of the country’s apex financial institution.

The CIBN president expressed readiness of the institute to maintain high standard in the banking sector, noting that for Nigeria to be fully out of recession, the country must focus on non-oil sector of the economy.

The Chartered Institute of Bankers of Nigeria (CIBN), an umbrella body of professional Bankers in the country, was established through an Act of Parliament to determine standard of knowledge and skills to be attained by persons seeking to become bankers.