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”.
Vanguard
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