“That bank is supposed to raise a suspicious activity report to the Nigeria Financial Intelligence Unit, NFIU. He has some explanation to do because of the mere fact that he bears various names with various accounts. “The bank also has to notify the bank where they adopted the BVN from so that the bank that gave the BVN also issues a suspicious activity report and the account is closed until the issues are cleared.”
According to him, the CBN will issue a circular soon, adding, “For the people doing change of name, the CBN is working on that.
It is going to issue a circular on what banks should do because that is the essence of the BVN and we are happy with what is going on.” The BVN was launched in 2014 as a means to curb fraud, identity theft and engender loan growth by issuing bank customers with unique identification numbers.
Source: National Mirror Nigeria