Tuesday, May 11

Tag: BVN

Real Reasons FG Is Replacing BVN, Others With NIN
News

Real Reasons FG Is Replacing BVN, Others With NIN

The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, recently disclosed that the federal government has begun the process of replacing the Bank Verification Number (BVN) and other national database systems with the National Identity Number (NIN). Daily Trust’s Business correspondents, in this explainer, further reports the real reasons behind this move. Aside from BVN, there are other key data systems in Nigeria. Some of these are the Drivers Licence, issued by the Federal Road Safety Corps (FRSC), the Tax Identification Number (TIN) and the International Passport Number. Others include professional licences like medical practice licence, pharmacology, nursing licence, teachers’ registration licence and engineering licence, among others. Accord...
BVN-Generated NIN Not Useful – NIMC
News

BVN-Generated NIN Not Useful – NIMC

At first, the NIMC denied that fact that there was any sort of harmonisation. They even issued a public statement that they didn't do any Harmonisation of their National Identity database with any other type of database whatsoever.. Now, they came back to issue another Public Notice. “If your NIN Number was generated due to the harmonisation of the BVN records with that of the National Identity Database, then, you will NOT have access to the NIMC Mobile-App, and also, your NIN-SIM INTEGRATION will be INVALID..”
Face And Profile Of Hacker Threatening Access Bank, Ihebuzo Chris
Crime

Face And Profile Of Hacker Threatening Access Bank, Ihebuzo Chris

A Nigerian hacker Ihebuzo Chris has demonstrated that the walls built around Access Bank network are vulnerable. The hacker who calls himself a python on Twitter gained access and extracted the data of over 2,000 customers. In a viral video, he showed the print out of the customer accounts, including their BVN, account numbers and other details. He also, possibly inadvertently blew his own cover, an error that may easily make him a candidate for jail. Ihebuzor didn’t plan to steal money from the accounts, according to the video, he just wanted to show that the Access Bank computers are not impregnable. According to him, he could debit customers’ accounts without their consent owing to the information he has. He claimed he went deep into the Bank’s computer without their p...
PDP Urge Lagos Speaker, Obasa To Submit Himself To EFCC Over Corruption Allegations
Politics

PDP Urge Lagos Speaker, Obasa To Submit Himself To EFCC Over Corruption Allegations

The Peoples Democratic Party (PDP) has urged the Speaker of the Lagos State House of Assembly, Mudashiru Obasa, to immediately step aside amid serious corruption allegations levelled against him. The party urged him to submit himself to the Economic and Financial Crimes Commission (EFCC) for investigation over allegations of financial impropriety. PDP made the call in reaction to reported discovery of 64 accounts allegedly linked to Obasa’s Bank Verification Number (BVN). The opposition party lampooned the All Progressives Congress (APC) for not speaking out on the allegations in the public space, that the said bank accounts allegedly operated with multiple names in various banks are being used to siphon funds belonging to the people of Lagos state. A statement by PDP’s spokesp...
64 Bank Accounts Linked To BVN Of Lagos Assembly Speaker, Obasa – SaharaReporters
Politics

64 Bank Accounts Linked To BVN Of Lagos Assembly Speaker, Obasa – SaharaReporters

At least 64 bank accounts have been discovered to be linked to the Bank Verification Number of Speaker of the Lagos State House of Assembly, Mudashiru Obasa. SaharaReporters discovered that the accounts registered with various names, are being used to siphon public funds in Lagos. The BVN reveals that Obasa operates accounts with multiple names in Polaris Bank, Zenith Bank, Access Bank, Ecobank Nigeria, Stanbic IBTC Bank, Guaranty Trust Bank, United Bank for Africa, First City Monument Bank and Wema Bank. To conceal his identity, the Speaker changed his name and date of birth in some of the accounts. Aside from using Ajayi Mudashiru Obasa, he also used Obasa Abdulrahman Gbadunola and Gabriel Adedoyin Savage to register some of the bank accounts. Some of the companies lin...
Pantami’s Decision To Mine Data Of Phone Users Trailed By Controversy
News

Pantami’s Decision To Mine Data Of Phone Users Trailed By Controversy

THERE are growing concerns over the decision of the Muhammadu Buhari government to mine Subscriber Identity Module (SIM) data of phone users in the country. Isa Pantami, the Minister of Communications and Digital Economy disclosed government’s plan to mine phone data in a viral video circulating across the social media platforms, in which he said that the poorest of the poor in the country were identified and offered supports through the SIM registration data mined by the ministry. The Minister revealed this in a video interview with an unidentified person. The statement also aligns with the recent pronouncement by Sadiya Umar-Farouq, the Minister of Humanitarian Affairs and Disaster Management, who said beneficiaries of the social intervention scheme would be sourced through SIM...
No BVN, No Payment Of Withheld Salary – FG Replies ASUU
Politics

No BVN, No Payment Of Withheld Salary – FG Replies ASUU

The Federal Government on Wednesday insisted that members of the Academic Union of Universities (ASUU) will have to make their Banks Verification Number (BVN) available for the various vice chancellors to validate before they would be paid their withheld February and March salaries. Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, disclosed this during the daily briefing by the Presidential Task Force on the coronavirus pandemic. According to the SGF, vice chancellors of various federal universities will have to revalidate the lecturers BVN before the salary payment. He added: “I am pleased to inform you that as a show of magnanimity and concern for all categories of employees, the president has approved the immediate payment of the withheld February and ...
How Govt Will Use BVN To Identify Poor, Vulnerable Nigerians, Minister Clarifies
Politics

How Govt Will Use BVN To Identify Poor, Vulnerable Nigerians, Minister Clarifies

The Federal Government is set to expand the social register for palliative distribution by employing digital models including the use of Bank Verification Number (BVN). The Minister of Humanitarian Affairs and Disaster Management, Sadiya Farouq disclosed this on Tuesday in Abuja, while responding to questions at Presidential Task Force briefing on COVID-19. She noted that this digital measure will be faster and make the distribution more effective. “We are using other models including BVN to identify bank accounts. We are also using mobile phone networks to identify poor and vulnerable people in the society. “This is going to be faster, transparent and give room for more accountability,” she said. She added that the conditional cash transfer to poor households which is c...
Tinubu Tells FG To Pay Relief Funds To Households Through BVN
Politics

Tinubu Tells FG To Pay Relief Funds To Households Through BVN

National Leader of All Progressives Congress , Bola Tinubu , has urged the Federal Government to make cash payments to households through Bank Verification Numbers to cushion the effects of COVID- 19 pandemic on Nigerians . Tinubu , a former governor of Lagos State , gave the advice in a statement issued in Lagos on Wednesday. He said payments could be made quickly by using the BVN of prospective recipients to make direct deposits into individual bank accounts . The APC leader said the use of BVN would also be safer and not lead to violence and crime that might follow physical cash transfers. Tinubu said this would encourage those without bank accounts to establish such accounts, adding that it would further bring millions of people into formal banking . “ The money - less f...
Onnoghen: BVN Reveals More Accounts
Politics

Onnoghen: BVN Reveals More Accounts

A Bank Verification Number (BVN) search may have exposed more accounts linked to the suspended Chief Justice of Nigeria (CJN), Justice Walter Onnoghen. Detectives are understood to have written three banks for details of the alleged accounts of the suspended CJN. The banks are Standard Chartered Bank, Union Bank and Heritage Bank, according to a preliminary report on the activities of Onnoghen by the Nigerian Financial Intelligence Unit (NFIU) and other agencies. The CJN is accused of false declaration of assets. A six-count charge has been filed against him. Further investigation into Onnoghen’s accounts notwithstanding, the United States of America, the United Kingdom and the European Commission (EU) yesterday urged caution on the part of the federal government in its han...
Buhari Urges Africans to Unite against Corruption
News

Buhari Urges Africans to Unite against Corruption

Atiku, Tinubu celebrate Ribadu President Muhammadu Buhari has called on every African, especially the younger generation, to collaborate on every front towards ensuring that corruption becomes a thing of the past on the continent. This is coming as the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has described Buhari’s war against corruption as a sham and congratulated the pioneer Chairman of the Economic and Financial Crimes Commission (EFCC), Malam Nuhu Ribadu, who was recognised alongside seven others and organisations globally for their efforts in fighting corruption in Nigeria. Named in January 2018 as the African Union Anti-corruption Champion, Buhari made the call yesterday when he declared open the 2018 Africa Youth Congress ...
Jonathan, Not Buhari, Introduced TSA, BVN — Reno Omokri
Politics

Jonathan, Not Buhari, Introduced TSA, BVN — Reno Omokri

Former media aide to President Goodluck Jonathan, Reno Omokri has said that the presidency dishonestly claimed the initiation of some banking and monetary policies of previous administrations. The presidency was defending itself from a criticism made by former United Kingdom Secretary for International Development, Ms. Priti Patel, where its spokesperson, Garba Shehu, claimed that the government has put in place instruments that have extraordinarily and unprecedentedly reduced corruption and corrupt practices. In a statement made available to Daily Trust on Wednesday, Reno said president Buhari’s administration has nothing whatsoever to do with the introduction of Treasury Single Account (TSA), Bank Verification Number (BVN), and the Integrated Payroll and Personnel Information S...
University Of Nigeria, Nsukka Now Requires Bank Verification Number For Registration
Education

University Of Nigeria, Nsukka Now Requires Bank Verification Number For Registration

It was no longer news for the Lions and lioness as the institution came up with a funny ideology of no blog account no course registration and definitely no exams for victims who fails to comply with the order. Now the institution has come up with another approach of BVN before Registration. "Registration for Next Academic Session Registration for next academic session will require Bank Verification Number (BVN). Please endeavor to go to your bank to obtain your BVN before resumption" Is this madness or a form of innovation and restructuring the educational system?
FG Pledges To Offset Four Months N-Power Stipend Backlog
News

FG Pledges To Offset Four Months N-Power Stipend Backlog

The Federal Government has promised to offset four months arrears of stipends it owed N-Power Build trainees, saying that it would launch a petty trader loan scheme called Trade Money. Senior Special Assistant to the President on Job creation and Youth employment, Afolabi Imoukhuede said this in Abeokuta at the inauguration of the N-Power training workshop at the Job Centre Initiative, JCI. Imoukhuede said: “The Federal Government is aware that some of you are yet to get your monthly stipend, this was because some of you had errors in linking your BVN to your account and you received a message in that regard. We want to ensure the right person gets paid. Let me assure you that at the next payment, some of you will get up to four months arrears of your stipends, it is better to keep h...
Senate To Probe Alleged N42b Brass LNG Account Operated By NNPC
News

Senate To Probe Alleged N42b Brass LNG Account Operated By NNPC

The Senate has mandated its committees on public accounts and gas to investigate the activities of Brass LNG, alleged to be running an illegal account in the name of the federal government, The Guardian reports.   The Senate indicted the Nigeria National Petroleum Corporation (NNPC) of allegedly operating a N42. 005 billion illegal account. The account, according to Senator Dino Melaye, (APC Kogi West), who raised the alarm through a point of order is being operated by NNPC and some expatriates in the oil industry under the name of a registered company called Brass NLG Limited with the Federal Government controlling the account.   According to him, the account which by extant laws is supposed to be domiciled in the Central Bank of Nigeria (CBN) is domiciled in a Keyst...
Financial Exclusion Is Limiting Government’s Efforts To Reduce Poverty
News

Financial Exclusion Is Limiting Government’s Efforts To Reduce Poverty

As long as financial exclusion remains high, everyone loses.   To comprehend the magnitude of the challenge we face in our quest to reduce poverty in Nigeria, we need to first acknowledge government’s efforts so far.   You will recall the establishment of social investment programs (SIP) initiatives which were aimed at reducing poverty and improving livelihoods of vulnerable groups such as the unemployed youths, women, and children.   The components of the SIP include:   N-Power: a job creation scheme supporting graduates and non-graduates. The scheme seeks to enhance the employability of participants by providing stipends while non-graduates acquire vocational skills. Graduates, on the other hand, are trained to work in communities as school teach...
Kano Govt Begins Payment Of Scholarship To 23,000 Students
News

Kano Govt Begins Payment Of Scholarship To 23,000 Students

The Kano State Government on Wednesday commenced payment of N300 million scholarship allowance to 23,987 students in various Nigerian universities and other institutions of higher learning in the country. Prof Fatima Umar, the Executive Secretary of the State Scholarship Board, disclosed this while briefing newsmen in Kano. Umar said the payment was part of the debt inherited from the immediate past administration that failed to pay the scholarship allowances from 2011 to 2015. She said that the payment was for 2013/14 academic session, adding that the board had already paid N360 million outstanding for the 2012/13 academic session to 24,901 students. According to her, the payment was for the Kano state indigenes studying various programmes in 55 institutions across the country...
Deadline For Bank Accounts Without BVN Elapses Today
News

Deadline For Bank Accounts Without BVN Elapses Today

The deadline for customers of Microfinance Banks (MfBs) and Other Financial Institutions (OFIs) without Bank Verification Number (BVN) linked to their accounts has elapsed today, January 1,2018. If the directive by the Central Bank of Nigeria (CBN) earlier in the year is anything to go by, such customers will be unable to make withdrawals from their accounts henceforth. The BVN enrolment is a brainchild of the apex bank and the Bankers’ Committee, a body of banks’ managing directors and the CBN. This is coming as the initial deadline set for July 31, this year was extended. The new directive indicated that by December 31, 2017, all customers of financial institutions operating in the country are expected to have had their BVN. The CBN, again, assured Nigerians that the BVN is g...
Nigerians In Diaspora Remitted $19 Bn In 2016 – World Bank
News

Nigerians In Diaspora Remitted $19 Bn In 2016 – World Bank

According to the World Bank's Migration and Remittances Factbook 2016, Nigerians in diaspora remitted a total of $19bn in 2016, making it one of the top six receivers for the period. In Africa, it has the highest estimated remittance as percentage of the Gross Domestic Product (GDP) of nineteen percent during the period, while same remains the second largest source of foreign earnings in the country after the Oil Sector. On 30th August, 2016, the Central Bank of Nigeria (CBN) issued licenses to eleven International Money Transfer Operators (IMTOs), in addition to the three existing ones, making them fourteen to operate international money transfer business in the country, for effective regulatory oversight. Success in money transfer services relies on convenience, safety, and reliability...
Central Bank Orders Banks To Keep Database Of Fraudulent Customers
News

Central Bank Orders Banks To Keep Database Of Fraudulent Customers

The Central Bank of Nigeria (CBN) has directed banks to establish a database of their customers identified through their Bank Verification Numbers (BVNs) to be involved in confirmed fraudulent activities. The directive is contained in the Regulatory Framework for Bank Verification Number (BVN) Operation and Watch-list for Nigerian Financial System released by the CBN. The implementation of the framework is with immediate effect. CBN Director Banking & Payments System, Dipo Fatokun, who signed the framework, said bank customers are to abide by the regulatory framework for BVN operations and the watch-list for the Nigerian Banking Industry and also report all suspicious or unauthorised activities on their accounts. Data from the CBN showed that Nigeria experienced a total of 3,5...
Fed Govt Asks NIMC To Eradicate Bio-Data Duplication
News

Fed Govt Asks NIMC To Eradicate Bio-Data Duplication

The federal government has asked the National Identity Management Commission (NIMC) to devise an effective and innovative identity management system devoid of duplication. It described the proliferation and duplication of efforts at bio-metric-based ‎identity systems as neither cost-effective nor security smart. Habiba Lawal, acting secretary to the government of the federation (SGF), gave the charge at the inauguration of the new governing board of NIMC. The management of NIMC recently confirmed that it had commenced the harmonisation process of all bio-data of Nigerians. Data expected to be harmonised include the subscriber identification module (SIM), card registration being handled by the Nigerian Communication Commission (NCC), Bank verification number (BVN), drivers’ lice...
Support FG To Entrench Permanent Peace – Garba Shehu
News

Support FG To Entrench Permanent Peace – Garba Shehu

The Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu has urged Nigerians to support the Federal Government in its efforts to bring permanent peace to the country. Shehu made the plea in an interview with the News Agency of Nigerian (NAN) on the sidelines of a show-case event tagged; “Positive Voices Campaign Project (PVCR)’’, held on Thursday in Abuja. “President Muhammadu Buhari has promised to bring back permanent peace all over the country including Niger Delta, North-East and central part of the country. “As a matter of fact during the All Progressives Congress campaign, he promised that Nigerians will be free to reside in any part of the country and earn legitimate livelihood without hindrance. “You can see that the reason for some of the...
Blogger Arrested In Lagos For Defrauding Uk-based Activist Of Millions
News

Blogger Arrested In Lagos For Defrauding Uk-based Activist Of Millions

A Nigerian blogger, Apeh Peterhot has been arrested by the Nigerian Police in Lagos. The Benue born Blogger had allegedly opened a Facebook pseudo account in the name of Queen Ann Ochoga and used it to defraud Mr. Philip Agbese, to the tune of N2.2m. It could also be recalled that, an innocent pregnant woman, Ann Johnson, was implicated in the said transaction, as the blogger cunningly used her bank account details, under the pretence that he had issues with his BVN. Luck, however, ran out of him, when the pregnant woman turned herself in at the police station and made confessional statement. The culprit, who has been on the run for days, was arrested Tuesday afternoon, following a coordinated operation of civilians and undercover policemen, following a tip off. He is curren...
CBN Extends BVN To Microfinance Banks, Gives July 31 Deadline
News

CBN Extends BVN To Microfinance Banks, Gives July 31 Deadline

Heeding several calls by the Federal Government, Nigerians and experts in the financial institutions in the country, the Central Bank of Nigeria (CBN) has extended the Bank Verification Number (BVN) exercise to microfinance banks. This was disclosed in a circular dated April 21 with reference number OFI/DIR/CIR/GEN/17/139 and signed by the CBN Director in charge of Other Financial Institutions Supervision Department, Mrs Tokunbo Martins. The apex bank gave July 31, 2017 as deadline for this exercise, warning that any account not linked with the BVN would be “shall not be allowed to make withdrawals.” In the circular titled ‘Letter to all Other Financial Institution (OFIs): Bank Verification Number (BVN) enrolment for customers,’ the CBN explained that the move became necessary bec...
5 Annoying Things Anyone That Uses A Nigerian Bank Can Understand
News

5 Annoying Things Anyone That Uses A Nigerian Bank Can Understand

Banking in Nigeria has greatly advanced. In the past, you will find long queues but today the opposite is the case. Many of them have embraced technology and have simplified the banking process. Regardless, there are still some annoying things that these banks do that are very frustrating. In line with this, Jumia Travel, the leading online travel agency shares some of these things. Asking you to bring utility bill to open an account Whenever you visit a bank in Nigeria to open an account, you are asked to bring a utility bill to confirm your address. Sometimes you begin to wonder, what you really need a utility bill for when you have BVN. BVN has every information about an individual including the fingerprints. You cannot change your fingerprint but you can change your address. T...
Buhari’s Govt, Worst In Nigeria — Asari Dokubo
News

Buhari’s Govt, Worst In Nigeria — Asari Dokubo

Many Nigerians have criticised you for investing in other countries when you could have done that in the Niger Delta. I don’t believe in Nigeria. In December 2013, I was arrested based on the allegation that I was the leader of Boko Haram. How is Nigeria faring now under the All Progressives Congress. The fact that the President holds the people in so much disdain and cannot speak with the people who are supposed to have elected him is a shame. But it’s Nigeria, anything goes. I owe Nigeria no apology. I can’t establish my institutions and businesses in a hostile environment. Business ought to be in a conducive environment that will engender profit and so on. The Nigerian environment is still hostile to me. I had the opportunity of going to South Africa and other places to establish my ...
Tales Of Losses: Engage Nigeria’s Army Of Half Baked Artisans At Your Peril
News

Tales Of Losses: Engage Nigeria’s Army Of Half Baked Artisans At Your Peril

Few weeks ago, Juliet Yusuf, an Idoma businesswoman based in Australia, arrived Nigeria in high spirits five days ahead of her wedding. Like many Nigerians in the Diaspora, having reliable friends who could arrange all the vendors for her wedding needs was a huge advantage. A busy woman, who hardly had time to do much shopping ahead of her wedding, Yusuf leaned on her friends, who assured her that she would get top-notch arrangement towards her wedding. When the issue of her wedding dress came up, despite all her misgivings, the friends told her there were more than enough designers within the country to make the most gorgeous gown. Out of caution, the bride-to-be got different people, whom she found through referral, to design her wedding dress and her reception dress. “The...
“Senator Peter Nwaoboshi Has 20 Bank Accounts In 6 Banks”
News

“Senator Peter Nwaoboshi Has 20 Bank Accounts In 6 Banks”

FLASH James Ibori's Senator Peter Nwaoboshi took N4billion from Delta State for a contract he didn't execute, has undeclared assets in Lagos EFCC probes lawmaker’s assets missing on Code of Conduct Bureau form A senator is the subject of a massive probe for not executing N4 billion contracts awarded by the government of Delta State, The Nation learnt yesterday. Sources told The Nation yesterday that the Economic and Financial Crimes Commission (EFCC) was also looking into how the lawmaker operates 20 accounts in six banks with different signatories. Besides, the senator allegedly used a company, to buy a 12-storey building in Apapa, Lagos, belonging to the Delta State Government for N805 million. The Nation learnt that the Code of Conduct Bureau (CCB) record showed that the ...
Fg’s School Feeding Project Starts Poorly — Investigation
News

Fg’s School Feeding Project Starts Poorly — Investigation

The implementation of the Federal Government’s free meal programme for public primary school pupils in the five pilot states of Anambra, Ebonyi, Oyo, Ogun and Osun states has started on a poor note. The Senior Special Assistant on Media and Publicity to Vice-President Yemi Osinbajo, Mr. Laolu Akande, had in a statement last Sunday said the government had released over N375m as part of its Homegrown School Feeding Programme meant to cater for almost 700,000 primary school pupils in the five states for 10 school days. According to Akande, N119,648,900 was paid to 1,381 cooks to feed 170,927 pupils in Ogun State while 1,466 cooks in Ebonyi got N115,218,600 to feed 164,598 pupils. He added that 937 cooks in Anambra were paid N67.5m to feed 96,489 pupils; 1,437 cooks in Oyo state got N...

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