CBN fines Access Bank N78m for BVN malpractices

The Central Bank of Nigeria (CBN) has sanctioned Access Bank Plc to the tune of N78 million for complacency and unethical practices in the Bank Verification Number (BVN) exercises in the 2017 financial year. The bank, which was accused of specifically failing to carry out the apex bank regulatory requirements on BVN for its customers, […]

2017: Bank customers dip by 2.2m amid BVN registration upswing

Indications that poverty level in the country has not abated despite the modest recovery of the economy have emerged with the number of bank customers dropping significantly in 2017 from the depositors’ number in 2016. Data obtained from the Nigeria Inter-Bank Settlement System’s, NIBSS’, showed that the total number of bank customers dropped from 61 […]