CUSTOMERS REVALIDATE ACCOUNTS ON CBN'S ORDER

IN response to the Central Bank of Nigeria's order for customers to update their accounts, banks in the Federal Capital Territory on Friday witnessed large turnout of account holders for the exercise.

A News Agency of Nigeria (NAN) reporter who visited banks in FCT observed that a good number of customers responded to the short message service sent to them by their banks to revalidate their accounts.

The Central Bank of Nigeria on December I in Abuja launched a campaign tagged Know Your Customer (KYC) to help check money laundering in the country. The campaign was expected to last for 30 days after which accounts of customers who failed to comply would be barred.

FirstBank of Nigeria, United Bank for Africa and Access Bank on Thursday sent messages to their customers to comply with the order.

At FirstBank in the Central Business District, Mrs. Agnes Ateme, a civil servant said: 'I came to the bank to fill the forms to update my account.

'I got a message yesterday that I should update my account that CBN said every customer should do that so that the bank will know every thing about us.

'This is good at least for security purposes,' she said.

Mr. Augustine Oke, a trader, commended the central bank for the effort, adding that it would help the bank to monitor its customers' accounts effectively.

'I think this is a good idea because next year, when politicians will start carrying money anyhow, it will help the banks to monitor and know when people engage in money laundry,' he said.

At Intercontinental Bank, Wuse Branch, NAN reports that there was large turnout of people filling forms to update their accounts.

Dr. Clement Wassa, a customer, said that it was a noble idea but noted that the awareness was poor.

'If not that I got a message, I did not hear about it for one day, but I just have to do it because I don't like having issues with banks so I try to obey their rules.

'I think what the apex bank is doing now is good, if appropriately followed, money laundry in this country will reduce,' he said.

NAN reports that Oceanic Bank, Access Bank and UBA in Wuse Market also witnessed a large turnout of customers for transactions against the long holidays following the Christmas celebration.