According to the National President of the Association of Mobile Money and Bank Agents in Nigeria, Sarafadeen Fasasi, going ahead with the CBN’s directive to bar customers without BVN and NIN from having access to their accounts from April 1, 2024, would cause unnecessary hardship on bank customers.
He said, “We agree that all bank accounts must have the minimum KYC, however, our challenge is with the urgency with the implementation and that has always been our own challenge with the Central Bank of Nigeria. We think the issue of KYC shouldn’t be an issue that should generate so much controversy and it should be gradual. It should not be an emergency. “
Speaking further, Fasasi urged the CBN to set up a meeting with industry stakeholders to resolve all the issues regarding the registration process and create a time limit of at least, a year to allow customers to regularise.
