The Minister of Finance, Mrs Kemi Adeosun, has urged the Central Bank of Nigeria to extend Bank Verification Number requirement to account holders in Microfinance Banks.
She said this would facilitate the detection of bank accounts which might have been opened and operated in such banks by ghost workers and other syndicates.
A statement by the ministry’s Director of Information, Mr Salisu Dambatta in Abuja on Monday, said Adeosun had written to the CBN Governor, Mr Godwin Emefiele, to make her case.
The minister said that the introduction of BVN by the CBN had contributed immensely to improving the integrity of the Federal Government payroll on which more than 50,000 ghost workers were detected and removed.
She said that operating bank accounts in Microfinance Banks without the requirement for BVN had left a huge loophole which individuals intent on financial crimes could use to hide and launder proceeds of crime and successfully escape detection by law enforcement agencies.