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Nigeria: Accounts’ Update – Bank Customers Not Keen

WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.

Original Post Date: 2011-01-05 Time: 13:00:03  Posted By: News Poster

By Chris Agabi

Lagos – Banks yesterday recorded low customers’ turnout in updating their accounts following the Central Bank’s shifting of the deadline to January 31st 2011.

Customers had besieged the banks December 31st to update their accounts. The initial deadline was 31st December, 2010. Our correspondent who visited some of the banks in some parts of Lagos reports that few customers were seen completing the accounts update forms.

Some of the banks visited include: Oceanic Bank Omele, Lagos, Bank PHB Ojodu, Lagos, Zenith Bank, Ojodu, Lagos Bank PHB Ogba, Lagos and Guarantee Trust Bank Tiaminu Savage Lagos. Some of the banks customer care officers who spoke to our correspondent on conditions of anonymity acknowledged the low turnout.

They however say a lot of the customers have completed the accounts update forms. Sunday Adeosun, a customer of First City Monument Bank said he was taking advantage of the extension to update his account. According to him, he couldn’t update his account before the first deadline closed but he is doing that now.

An Intercontinental Bank customer who just want to be identified as Tunde said though he opened his account in Abuja, he is not keen to update it. He doesn’t see any need to do it. “I don’t see the use. My account is active. I have been using and I am still using it, so why the hue about accounts update,” he said.

The Central Bank of Nigeria (CBN) Monday extended the deadline for bank customers to update their account information to January 31. The CBN’s spokesperson Mohammed Abdullahi in a statement said all banks are required to ensure compliance with the new deadline.

He said: “It would be recalled that the CBN on 29th November, 2010 directed that all customers of banks and financial institutions in Nigeria should update their account information by 31st December, 2010 failing which the affected accounts would be suspended with effect from 1st January, 2010.

“Having reviewed the progress made so far and the response of the banking public, the CBN has extended the deadline for the information update of bank accounts from 31st December, 2010 to 31st January, 2011.

“The bank has therefore directed all financial institutions to ensure compliance with the revised deadline and suspend operations of all accounts with un-updated information with effect from 1st February, 2011.”

The account update is part of the Customer Due Diligence (CDD) which involves Know Your Customer (KYC) compliance which is accepted worldwide as a tool for the fight against money laundering and terrorism financing as well as protecting the interest of customers.

Original Source: Daily Trust (Abuja)
Original date published: 5 January 2011

Source: http://allafrica.com/stories/201101050463.html?viewall=1