Based on the just concluded deadline for the Bank Verification Numbers (BVN) enrollment, report say some politicians and public officers still shy away from the system to avoid being identified as owners of huge sums in bank accounts.
Read More Enrolment for The BVN Still Ongoing Despite Deadline
According to Guardian, Many asked question on how they can evade the process, most of them fall into this category. Source in the sector said that the amounts in the these accounts are so large that none of the banks associated with the deposits would want to lose them.
The CBN gave an initial deadline of June 30, 2015 which it later extended to October 31 to ensure maximum compliance.
The Central Bank of Nigeria (CBN) has mandated all Nigerian account holders to register for the BVN or have their accounts restricted.
