Banks to accept only digital affidavits, CBN orders

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All financial institutions in Abuja, the Federal Capital Territory (FCT), have been ordered by the Central Bank of Nigeria (CBN), to stop accepting typewritten affidavits from their clients as of March 30, 2023.

A circular to all banks with reference number BSD/DIR/GEN/LAB/016/003 dated February 13, 2023, contains the order, which aimed to end the proliferation of bogus affidavits produced by touts working with dishonest court officials.

The decision by the apex bank followed the introduction of Electronic affidavit (e-Affidavit), otherwise known as Affidavit Registry Management System (ARMS), by the High Court of the FCT.

ARMS, which was launched in an elaborate ceremony by the Chief Judge of the FCT, Justice Hussein Baba-Yusuf, in Abuja, on March 31, last year, is supported by an indigenous service and technology solution provider, Integrated Intelligent Imaging West Africa Limited (I-CUBE WA Ltd.

Speaking during the launch, Chief Executive Officer of i-CUBE, Moyosola Niran-Oladunni, who lauded the FCT Chief Judge for introducing the the e-affidavit, said it would ensure that Nigeria is compliant with global trends.

He also explained that the e-affidavit would drastically reduce the turnaround time in processing and also addressed the problem of integrity as all issued affidavits could be easily verified.

“Also, importantly, it has eradicated perpetual leakages in the revenue of the court by permanently eliminating the role of middlemen and touts,” Niran-Oladunni added.

Credit : Newsmakers

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