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Wednesday, 26 January 2022 18:52

Banks refuse to remit N1.2trn FG money, as 71m Nigerians use accounts without ID

The House of Representatives, Wednesday, alleged that 71 million Nigerians still operate their banks’ accounts without identification, just as it noted that trillions of Naira belonging to the Federal Government were being held by commercial banks.

The House, therefore, set up an ad hoc committee, headed by Unyime Idem (PDP, Akwa Ibom), to investigate the unremitted funds as well as infractions by the Central Bank of Nigeria, CBN.

The resolution followed the consideration of a motion presented by Dachung Bagos from Plateau State at the plenary.

In his motion, Bagos noted about 45.85 million bank accounts were yet to be linked after the introduction of the Bank Verification Number (BVN) by CBN in 2014.

He said: “About seven years after the introduction of the BVN into Nigeria banking system, about 45.85 million bank accounts across Nigeria are yet to be linked to BVNs.

“Data released by the Nigerian Inter–Bank Settlement Systems (NIBSS) on June 23, 2021, disclosed that the total number of bank accounts in Nigeria as of May 2019 is pegged at 122.071 million.

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