The Bank Verification Number (BVN) is a unique identification number that is mandatory for all bank account holders in Nigeria. It was introduced by the Central Bank of Nigeria (CBN) in 2014 as a biometric-based identification system aimed at curbing fraudulent activities in the Nigerian banking system.
The BVN serves as a means of identifying and verifying the identity of bank account holders, reducing the risk of identity theft and fraud. It is a 11-digit number that is unique to each individual and linked to all their bank accounts across different banks.
BVN registration is a one-time process that is free of charge and is mandatory for all bank account holders in Nigeria, including individuals, corporate bodies, and government agencies. Failure to register may result in the restriction of banking transactions.
It is important to note that the BVN helps to promote financial inclusion by making it easier for individuals to open bank accounts and access financial services. To ensure the security of bank accounts and prevent fraudulent activities, it is imperative for all bank account holders in Nigeria to register for BVN and keep their BVN confidential.
If you are in Nigeria and do not have a BVN, you can follow these guidelines to complete the BVN registration process.
BVN Registration Process
Requesting the BVN Enrolment Form: Where and How to Get It
Visit any bank branch where you have an account and request for BVN enrolment form. You can visit any bank branch where you have an account, regardless of the bank where you opened your account. You will be required to request for the BVN enrolment form from the bank official at the customer service desk. The form is usually available for free and you may be required to provide some form of identification, such as your national identity card, driver’s license, or international passport.
Accurate Information: How to Fill the BVN Enrolment Form
Fill the form with accurate information and submit it to the bank official. Once you have obtained the BVN enrolment form, you will be required to fill in your personal information accurately. This includes your full name, date of birth, phone number, email address, and other relevant details. You will also be required to provide your account number and the name of the bank where you opened the account. After filling the form, you should submit it to the bank official for processing.
Biometric Data: The Importance of Fingerprint, Facial Photograph, and Signature Verification
Provide your biometric data (fingerprint, facial photograph, and signature) for verification. After submitting the form, you will be required to provide your biometric data, which includes your fingerprints, facial photograph, and signature. This is done to verify your identity and ensure that the BVN is unique to you. The bank official will guide you through the process of capturing your biometric data, which is usually done electronically.
Acknowledgement Slip: What It Is and Why You Need to Keep It Safe
Once your biometric data has been captured, you will receive an acknowledgement slip containing your BVN. This slip serves as proof that you have successfully enrolled for the BVN and it contains your BVN number, full name, and date of birth. It is important to keep this slip safe and secure, as you may need it for future reference.
BVN Linkage: How Your BVN Is Connected to All Your Bank Accounts
Your BVN will be linked to all your bank accounts across different banks. This means that once you have enrolled for the BVN, you do not need to enrol again for any other account you open in any bank. This makes it easier for you to manage your accounts and conduct financial transactions seamlessly.
Retrieving Your BVN: How to Check Your BVN Number Using Your Mobile Phone
You can also check your BVN by dialing 5650# on your mobile phone. This service is provided by the Nigerian Interbank Settlement System (NIBSS) and it allows you to retrieve your BVN number instantly. You will be required to dial the code from the phone number that is linked to your bank account and follow the prompts to retrieve your BVN. This is a convenient way to access your BVN without having to visit a bank branch or go through any complicated process.
Note: BVN registration is free of charge and it is mandatory for all bank account holders in Nigeria.