BVN: Billions Of Naira Left Unclaimed In Nigerian Banks

House of Reps

The House of Representatives in a plenary session on Wednesday failed to continue discussions on the issue of huge amount of suspicious bank deposits that were detected after the country adopted the use of Bank Verification Number (BVN).

The lawmakers were expected to talk about the billions of naira left unclaimed in banks because their owners failed to register for BVN or link to existing ones where appropriate, but the motion was deferred because its initiator Abubakar Amuda-Kannike was not present at the house.

Mr. Amuda-Kannike, in a prepared motion had said some anti-graft agencies recently discovered trapped billions of naira due to the introduction of BVN.

According to the motion, the lawmaker urged the House to mandate the Central Bank of Nigeria to work with the Nigerian Financial Intelligence Unit to investigate the suspicious funds.

But his absence stalled the deliberation and the potential consideration of his motion.

However, the House did not state a new date for the revisit of the motion.