| CBN Approves Voters' Card For Bank Transactions Oct 6th 2012, 19:21 In an effort to further deepen the level of financial inclusion in the country, the Central Bank of Nigeria (CBN) has approved the use of the Independent National Electoral Commission voters' registration card as a means of identifying customers for the purpose of opening accounts or engaging in any other financial transactions.
The CBN stated that the development was necessary in order to reduce the number of unbanked people.
The apex bank also adopted uniform account opening forms for use by banks and other financial institutions for the purpose of opening accounts for their customers,
In a circular to all banks and other financial institutions titled 'Inclusion of Independent Electoral Commission Voter's Registration Card as a Means of Customer Identification,' the apex bank said: "Further to our circular on AML/CFT Regulation 2009 on acceptable means of identification for the purpose of account opening and transaction of banking business in Nigeria, it has become necessary as a result of the need to enhance financial inclusion, to extend the acceptable identification options."
The circular signed by Amugo K. N for the CBN director, financial policy and regulation department, directed that "all banks and other financial institutions are hereby advised to accept INEC Voter's Registration Card duly issued by INEC, bearing the holder's particulars such as name, photograph, date of birth and address as valid additional means of identification of natural persons for the purpose of conducting banking business in Nigeria." http://www.osundefender.org/?p=39372The central bank of nig. has orderd banks to use or accept voters card for bank transactions to enhance the new bank restructuring. Could go a long way to save the banking sector considering the changes of voters card in nigeria in evry voting period? Your sugestions pls. | |
