By Agency reporter

Thursday, 6 Jan 2011

Banks‘ customers in Nsukka, Enugu State on Wednesday commended the Central Bank of Nigeria‘s decision to extend the time for customers to update information on their accounts till January 31.

A businessman, Mr. Bernard Ogu, told the News Agency of Nigeria in Nsukka that the extension showed that CBN was sensitive to the plights of customers.

“Notice for the update was short, and it came during the Christmas period when Nigerians were busy preparing for the festivity.

“Some banks did not send any alert massage to their customers and till now my bank has not sent me any massage.

“I am grateful to the CBN, if not my money could have been trapped,‘‘ he said.

A civil servant, Mrs. Kate Onah, said that CBN‘s extension of the time was commendable, since it will enable account owners to update without much struggle.

She said, “With the extension, any customer who failed to update information on his or her account before January 31, will have himself to blame and not CBN.

“Banks should also ensure that enough staff are assigned to carry out the duty of attending to customers on the issue.

“CBN should ensure that the objective of the exercise, which it said is aimed at protecting Nigerians from money laundering, is achieved.‘‘ Onah said.

She also called on the CBN to create more awareness on the extension, to enable more people get the information, especially those in the hinterland.

“Most of the customers in the villages are not aware of the CBN‘s directive on the update of information on bank accounts,‘‘ she said.

A bank official, who pleaded anonymity, said that CBN extension saved banks from the wrath of some customer, who could not meet the deadline.

“Without the extension some banks would have run into problems with their customers.

“Already some customers are claiming that they did not receive any alert to that effect.

Banks are grateful to the CBN for the extension, any customer, who fails to update, does so at his or her own risk,‘‘ the source said.

NAN reports that due to public outcry and poor information on updating of accounts, the CBN decided to extend the deadline to January 31.

Source: Punch