CBN Monitors 6,047 BVNs Over Suspected Fraudulent Transactions

At least 6,047 Bank Verification Numbers of bank customers have been placed under the Central Bank of Nigeria watch list for fraudulent transactions, According To The Punch.

This was contained in the CBN Financial Stability June 2022 report published in December 2022.

The report also noted that 11,871 BVNs have been watch-listed as deceased persons this year.

The report disclosed that the apex bank conducted an assessment of 28 banks and the Nigerian Interbank Settlement System to ascertain compliance with the Regulatory Framework for BVN Operations and Watch-List for the Nigerian Banking Industry in the review period.