At least 6,047 Bank Verification Numbers of bank customers have been placed under the Central Bank of Nigeria watch list for fraudulent transactions.

This was contained in the CBN Financial Stability June 2022 report published in December 2022.

The report revealed that the apex bank conducted an assessment of 28 banks and the Nigerian Interbank Settlement System to ascertain compliance with the Regulatory Framework for BVN Operations and Watch-List for the Nigerian Banking Industry in the review period.

It noted that the assessment revealed some infractions and regulatory actions were taken.