CBN Orders Banks to Accept Only Digital Affidavits from Customers

Pat Stevens/

The Central Bank of Nigeria (CBN) has directed all financial institutions in Abuja, the Federal Capital Territory (FCT), to stop accepting typewritten affidavits from their customers from March 30, 2023.

The directive, which aimed at eliminating the prevalence of fake affidavits issued by touts in collusion with unscrupulous court officials, is contained in a circular to all banks with reference number, BSD/DIR/GEN/LAB/016/003, dated February 13, 2023.

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 ).

An internal memo by Polaris Bank Limited circulating the CBN’s directive among its staff, a copy of which was obtained by NewsmakersNG, indicated that the digital affidavit was adopted because of its “security layers and verification methods”.

The memo, with the subject, ‘CBN Circular-FCT High Court Affidavit Registry Management System (ARMS),’ reads in part:

“CBN issued a circular BSD/DIR/GEN/LAB/016/003,FCT HIGH COURT AFFIDAVIT REGISTRY MANAGEMENT SYSTEM (ARMS), dated February 13 ,2023.

“The Federal Capital Territory (FCT) High Court has introduced a new Affidavit Registry Management System (ARMS).The Court migrated to the digital affidavit form and stopped issuing the handwritten/typewritten affidavit.

“The new digital affidavit has two security layers and verification methods:

“1. A security bar code that can be scanned using a QR scanner that verifies the authenticity of the affidavit and

“2. A unique affidavit reference code generated per affidavit which can be inputted in the verification portal upon visiting the website.

“Banks are required to disregard any handwritten or typewritten affidavit without the above stated features submitted by customers for documentation, purportedly emanating from the High Court of Justice, Federal Capital Territory, Abuja after March 30, 2023

“Please take note of the new digital affidavit (attached) for guidance.”

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.

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