CBN Orders Banks To Accept Permissible IDs For Refugees

The Central Bank of Nigeria has ordered banks and other financial institutions to accept Machine Readable Convention Travel Document issued by Nigeria Immigration Service; and the Refugee Identify Card issued by the National Commission for Refugees, Migrants and Internally Displaced Persons as means of identification for banking transactions.

The CBN disclosed this in a circular titled ‘Acceptance of Machine Readable Convention Travel Document and refugee identification card as means of identification’ on Wednesday, to all banks, other financial institutions and Payment Service Providers.

It stated, “The attention of the Central Bank of Nigeria has been drawn to challenges encountered by refugees and asylums 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 Regulation, 2013 (as amended) on customer due diligence, especially Regulations 40 and Regulations 80, and to note that the MRCTD issued by the Nigeria Immigration Service; and the Refugee Identify Card issued by the National Commission for Refugees, Migrants and Internally Displaced Persons are adequate as means of identification for banking transactions.

“Banks and other financial institutions are also required to continue 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.”