The Bank Verification Number (BVN) initiative, when fully implemented, will help to curb arbitrage in the foreign exchange market, an Executive Director at Sterling Bank, Mr. Abubakar Suleiman, has said.
Suleiman explained that with the BVN, each bank customer will have a unique identification, which will make it easy to prevent people from flouting the Central Bank of Nigeria's (CBN) recent policy on the use of naira denominated debit cards for transactions abroad.
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