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– Members of the House of Representatives have failed to discuss billions of deposits lying around in banks after the concluded Bank Verification Number registration exercise
– The planned discussion by the lawmakers failed due to the absence of Abubakar Amuda-Kannike who sponsored the motion
– The lawmakers were expected to discuss the unclaimed monies as their depositors failed to either register a BVN or link existing ones where necessary
Members of the House of Representatives on Wednesday, November 2, made an attempt to discuss billions of deposits lying around in banks after the concluded Bank Verification Number exercise.
The lawmakers were expected to discuss the unclaimed money as their depositors have failed to either register a BVN or link existing ones where necessary.
However, the planned discussion by the lawmakers failed due to the absence of Abubakar Amuda-Kannike who sponsored the motion.
The motion was further deferred to a later date, pending the appearance of its sponsor.
Amuda-Kannike had in his motion said that some anti-corruption agencies recently uncovered billions in trapped funds due to the introduction of BVN.
He asked House to mandate the Central Bank of Nigeria to collaborate with the Nigerian Financial Intelligence Unit to investigate suspicious funds.
While no date was subsequently fixed for hearing on the motion, Amuda-Kannike could not be reached for reactions on the matter, Premium Times reports.
The process of BVN registration was introduced in Nigerian by the apex bank.
All bank account owners through this process are expected to have a BVN.
The BVN is also expected to be linked with by its owner to other accounts owned in different banks.