Members’ BVN: Agency Partner NIBSS

The National
Cooperative Financing Agency of Nigeria (CFAN) is partnering with the Nigerian Inter-Bank Settlement System (NIBSS) to provide Bank Verification Numbers (BVN) for identification of its members at the grassroots.
The CFAN Executive Secretary, Mr Emmanuel Atama, made the assertion yesterday in an interview with newsmen in Abuja.
Atama said the BVN would also assist the agency to provide the basic needs of life to its members, adding that the recently established Unified Cooperative Platform (UCP) would anchor the process.
“We will use the BVN as a unique identifier of our group members down the ladder for access to pension, healthcare, micro-insurance, micro-housing, financing and other good things of life.
“This will enable them to find life more meaningful and worth living, and our UCP will lead in opening up the financial highway down to the grassroots.
“UCP is the bedrock upon which the activities of the National Cooperative Development Fund will be ran and anchored.
“ It is the infrastructure that will help account for every transaction done with respect to administering funds,’’ he said.
Atama said that the UCP was already on the agency’s website.
He said that a steering committee would soon be set up at the national, zonal and state levels to help in sensitising and mobilising cooperative members to participate through their contributions.
Atama said that 82 co-operatives were already on board in a bid to meet the target of achieving about 200 by December.
Our correspondent reports that UCP is to provide standardised cooperative technologically-driven platform that would meet the operational needs of the cooperative societies in Nigeria.
The innovation will serve as a one-stop-shop for all the technology needs of cooperative societies, and solve issues of accountability, productivity, monitoring and reporting needs of every cooperative society.