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Alexander O. Onukwue
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NIBSS wants to tighten security around Nigeria’s Bank Verification Number (BVN) system. But there are concerns about fair competition.
On the 29th of March this year, the Nigeria Interbank Settlement Scheme (NIBSS) published an important document.
The “Approved Standard Operating Guidelines for BVN Matching System Version 2.0” document is Nigeria’s BVN operations manual. It explains how banks should enrol and verify customers for BVNs, and how institutions can access the BVN system.
BVNs – unique identification numbers for bank customers – were launched in 2014 by the Central Bank of Nigeria (CBN) and the Bankers’ Committee as a “Know Your Customer” (KYC) infrastructure for the financial sector.
Nigeria’s National Youth Service Corps (NYSC) has exempted corps members posted to Borno State from the annual camping exercise.
“2020 Batch A Corps members serving in Borno State are exempted from Camp resumption,” NYSC said when it announced the exemption in a tweet on Wednesday. x
NYSC, however, did not state any reason for the exemption to corps members posted to the northeast state. But recent events in the state suggests that it could be for security reasons.
Between November and December 2020 alone, more than 50 persons have lost their lives in attacks by Boko Haram, bandits and other insurgency groups in Borno State.