Home Business All You Should Know About Bank Verification Number

All You Should Know About Bank Verification Number


BVNAcross the nation, many unregistered citizens have thronged banking venues in large numbers in a bid to beat the deadline for Bank Verification Number, BVN, an initiative of the central Bank of Nigeria, CBN to capture customers details to promote effective and transparent financial system.

Despite the tension in the country  over the deadline of the registration, here are important information to guide you in enrolling for BVN;

1) Bank Verification Number, BVN, is part of the Central
Bank of Nigeria, CBN’s, cashless policy to capture
customers’ data and check fraud in the banking system.

2) It is an initiative of the CBN to give every customer in the Nigerian banking system a unique identification number that can be verified across all banks in Nigeria.

3) The enrollment process for acquiring your Bank Verification Number is simple. Visit any branch of the bank you have an account with. Registration by proxy not acceptable.

4) Collect and fill the Bank Verification Number, BVN enrollment form with all personal data about you.

5) Submit the completed form to a designated official at
your bank, who would then transfer the information given
into a computer data base.

6) The official will take your photograph and finger prints.

7) You will sign your signature that will be captured
electronically into the data system.

cool A small temporary registration acknowledgement slip will be issued to you, followed by an email or SMS conveying a similar information.

9) A BVN identification card with a computer chip bearing
your embedded personal information will be issued to you
for collection at your designated bank branch.

10) Bank Verification Number registration exercise is mandatory for all individual customers. Registration must be completed on or before June 30, 2015.

11) After deadline, you may not be able to do any financial transaction in any bank in the Nigerian banking system as you will require your fingerprint for authentication.

12) BVN registration is for individual account holders for the meantime till further notice.

13) bank Verification Number Registration in one bank covers all accounts the
individual might have in all other banks…


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