The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks in the country to obtain the social media handles of customers for identification purposes.
The CBN further demands that the banks obtain e-mail addresses, telephone numbers, and residential addresses, among other things, from customers.
These instructions contained in the new CBN customer due diligence regulations are aimed at further strengthening the identification process in the banking system, it is said.
The CBN published the ‘Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023’ document containing this information, on its website on Friday.
According to the CBN, the new regulation was designed to provide additional customer due diligence measures for financial institutions under its regulatory purview.
