CBN: Nigerian court affirms NIBSS authority to manage BVN
CBN: Nigerian court affirms NIBSS authority to manage BVN
Nigeria’s Federal High Court in Abuja on Friday affirmed the authority of the Nigeria Inter-Bank Settlement System, NIBSS, to manage the Bank Verification Number, BVN, database across the country, in line with the Central Bank of Nigeria, CBN, Act and other relevant banking laws. This is according to a judgment delivered by Justice James Omotosho on Friday. NIBSS’s counsel, Wolemi Esan, Senior Advocate of Nigeria, and Kofo Abdulsalam-Alada, lead counsel for the CBN, among others, had sought a restraining order to prevent any institution in Nigeria from challenging the agency’s statutory authority to maintain and manage the BVN database. This comes as NIBSS had alleged that Digital Rights Lawyers Initiative filed multiple suits, either directly or through proxies, challenging its authority to manage the BVN database and claiming that such management violates constitutional privacy rights. However, Justice Omotosho, delivering his judgment, said the BVN does not infringe on the constitutional right to privacy. “The initiative does not infringe on the constitutional right to privacy but rather serves as a necessary tool for safeguarding public interest and enhancing financial security. “NIBSS has the power to manage the BVN,” the judge said, citing relevant CBN laws. “The court grants the reliefs of NIBSS as prayed,” he stated. Source:
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Nigeria’s Federal High Court in Abuja on Friday affirmed the authority of the Nigeria Inter-Bank Settlement System, NIBSS, to manage the Bank Verification Number, BVN, database across the country, in line with the Central Bank of Nigeria, CBN, Act and other relevant banking laws. This is according to a judgment delivered by Justice James Omotosho on Friday. NIBSS’s counsel, Wolemi Esan, Senior Advocate of Nigeria, and Kofo Abdulsalam-Alada, lead counsel for the CBN, among others, had sought a restraining order to prevent any institution in Nigeria from challenging the agency’s statutory authority to maintain and manage the BVN database. This comes as NIBSS had alleged that Digital Rights Lawyers Initiative filed multiple suits, either directly or through proxies, challenging its authority to manage the BVN database and claiming that such management violates constitutional privacy rights. However, Justice Omotosho, delivering his judgment, said the BVN does not infringe on the constitutional right to privacy. “The initiative does not infringe on the constitutional right to privacy but rather serves as a necessary tool for safeguarding public interest and enhancing financial security. “NIBSS has the power to manage the BVN,” the judge said, citing relevant CBN laws. “The court grants the reliefs of NIBSS as prayed,” he stated. Source:
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