The Central Bank of Nigeria, CBN has instructed Banks to accept Machine Readable Convention Travel Document (MRCTD} and the Refugee Identity Card as means of identification for banking transactions.
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The Apex Bank disclosed this in a circular released on Wednesday, addressing Banks, Other Financial Institutions And Payment Service Providers, that its attention has been drawn to challenges encountered by Refugees and Asylum seekers in Nigeria with regards to means of identification with respect to the conduct of financial transactions.
“To address these concerns, all banks and other financial institutions are referred to the provisions of the CBN AML/CFT Regulations, 2013 (as amended} on customer due diligence, especially, Regulations 40 and Regulations 80, and to note that the Machine Readable Convention Travel Document (MRCTD} issued by the Nigeria Immigration Services; and the Refugee Identity Card issued by the National Commission for Refugees, Migrants and Internally Displaced Persons are adequate as means of identification for banking transactions.” It stated.
However, Banks and other financial institutions are to ensure that effective customer due diligence policies and procedures are implemented to combat money laundering, financing of terrorist and proliferation of weapons of mass destruction.
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