The Central Bank of Nigeria has approved the extension of registration for the Bank Verification Number (BVN) exercise for personnel of the Nigeria military.
This was disclosed by CBN’s Deputy Governor, Operations, Alhaji Suleiman Barau, while appearing before the Senate Committee on Appropriations on Monday.
Barau said the apex bank received a memo from the Defence Minister, Brig. -Gen. Mohammed Dan-Ali to the effect.
He said the bank granted the request in recognition of the effect the account lockdown would be having on military personnel.
The Defence Minister had earlier pleaded with the committee to intervene on behalf of the armed forces personnel by directing the CBN to extend the exercise because of them.
Dan-Ali said the BVN-induced account lockdown was affecting many of the armed forces personnel, many of whom were fighting insurgents in the North East.
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