Should Federal Government claim bank deposits that have no BVN?

Baba Gana Taiduma, 57, Politician, Abuja First of all, the introduction of Bank Verification Numbers (BVNs) by the CBN in 2015 is to reduce fraudulent banking transactions. In this regard, the government has the right to claim and put to use deposits of customers who refused to adhere to the directives of the CBN. More […]

Baba Gana Taiduma, 57, Politician, Abuja

First of all, the introduction of Bank Verification Numbers (BVNs) by the CBN in 2015 is to reduce fraudulent banking transactions. In this regard, the government has the right to claim and put to use deposits of customers who refused to adhere to the directives of the CBN. More so, the high court in Abuja ruled the forfeiture of such deposits to the government. It might appear bizarre to the so-called owners of those monies, but the government and the court did the right thing any civilized society would do. In fact, it’s a sort of delayed priority, it should have been done much earlier. This is a bit of the ‘change’ promised to Nigerians by this administration. 

Juliiana Madaki, 39, Businesswoman, Kaduna

I think the government should make further investigations before taking any step in claiming the money. Some persons may have reasons for not having a BVN number or it may be the fault of the bank where the person did his or her BVN. However, some other individuals do so to hide their crime. The BVN is a welcome development in order to put a stop to those who are involved in fraudulent acts.

Ogunleye Francisca Smile, 33, Entrepreneur, Abeokuta

The federal government made it official for every citizen to have a BVN due to some financial discrepancies and atrocities happening in this country. I believe a good citizen who has no skeletons in his cupboard should have a BVN. If the federal government should find deposits without BVN, they should claim it. Anybody who doesn’t have BVN by now I believe has stolen money and that individual doesn’t want the cash to be traced to his or her account.

Tochukwu Akulue, 47, Structural Engineer, Onitsha, Anambra 

This BVN issue has been there for long. Some have done theirs while others are yet to do theirs. With what is happening now, those who have not done theirs would lose their money to the federal government. This is not right. I don’t see it as a good idea or something that will help the people. The government does not have any right to seize people’s money like that. Instead of seizing people’s money, let them find a way to solve Nigerian’s problems. I don’t support this new claim by the federal government.

Barr. Ifeanyi Umeukeje, 50, Lawyer, Abuja 

BVN registration is just a policy of the CBN. For federal government to rely on the policy and rob innocent Nigerians of their hard earned savings under the cover of corruption fight is wrong and unjust. Several reasons abound why some people have not registered their BVN. Some people are in jail, both at home and abroad. Some may also have died suddenly, and the family members may not be aware of the existence of such accounts. And some rural folks may be unaware of this policy. So the federal government needs to think of better ways of recovering looted funds.

Engr. Ikeuba Ibuchi, 29, Industrialist, Utako, Abuja

All bank customers should try to update their BVN. Any customer that does not update his or her account with BVN should have his or her account made dormant until it is linked to BVN. Closing accounts without BVN is undemocratic. Some account owners are bedridden, in prison, or on exile. I suggest the federal government should come up with another method to eradicate those fraudulent activities going on in the banking sector, rather than claiming bank deposits that don’t have BVN.

Mary Oyiri, 23, Secretary, Dutse, Abuja

The action of the government is wrong. So many people are not aware of this BVN. Some may have been out of the country for many years. If the government should claim all monies belonging to people, it will create further hardship for Nigerian’s, especially now that suicide is on the increase. I think the government should create more awareness so people who have not registered their BVN will to do so. 

Annishma Jeremie, 31, Entertainer, Kaduna.

The Federal Government is the national instrument. The directive for BVN was given a long time ago, with so many duration extensions in the date line. Violators exhibited outright defiance to government policy. This should serve as a punishment.