Friday, 5 October 2012

CBN Directs Banks To Accept Voters' Card For Identification.

Central Bank of Nigeria, CBN, Thursday directed banks to accept the voters’ card issued by Independent National Electoral Commission, INEC, as means of identification.

The directive was given via a circular titled “Inclusion of Independent National Electoral Commission, INEC, voter’s registration card as a means of customer identification”.

The circular said: “Further to our circular on anti-money laundering/counter financing terrorism (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".

“Accordingly, 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 a valid additional means of identification of natural persons for the purpose of conducting banking business in Nigeria.”

In another development, the CBN has commenced measures for banks to have a common account opening procedure. The apex bank yesterday issued a draft documents for account opening by individuals and corporate bodies. The draft document was communicated to banks via a circular titled, Account Opening Forms.

It stated that, “the absence of uniformity in account opening procedure and documentation for prospective customers has continued to hinder the effectiveness·of KYC requirement in banks and other financial institutions in Nigeria.

“The adverse implication of this on the fight against money laundering and  combating of financing of terrorism cannot be overemphasized. The CBN, in conjunction with the Committee of Chief Compliance Officers of Banks in Nigeria, CCCOBIN, has therefore developed draft uniform account opening forms for adoption by banks and other financial institution”.

No comments:

Post a Comment