Home News UPDATED: CBN Extends Bank Verification Number Registration

UPDATED: CBN Extends Bank Verification Number Registration

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BVNThe Central Bank of Nigeria, CBN has extended the deadline for Bank Verification Number registration till 31st October, 2015. while promising to release guidelines for the registration of Nigerians in diaspora.

According to a statement from the CBN, signed by the Director, Banking and Payment Systems Department, Dipo Fatokun, it said: “It has come to our notice that the BVN registration has elicited tremendous interest from the Nigerian Bank’s customers who crowded the banking halls, in order to beat the deadline.

The apex bank also said it considered the Nigerian Banks’ customers in diaspora and the need to ensure they are captured in the registration.

“Furthermore, there is the need to give Nigerian Banks’ Customers in diaspora, ample time to enrol on the program. The guidelines for the enrolment is being finalised and will be released soon. CBN said.

“In view of the foregoing, it has become imperative for the Bank to extend the timeline for all banks’ customers to have the BVN. The deadline for enrolment is hereby extended from 30th June, 2015 to 31st October, 2015.

CBN noted that the extension is expected to facilitate a smooth completion of the registration exercise.

Recall, CBN Vows Not To Extend Deadline Of BVN Registration

The Director, Corporate Communications, Central Bank of Nigeria, CBN, Ibrahim Mu’azu, has disclosed that the deadline – Tuesday, June 30, 2015 – for registration of the Biometric Verification Number will not be extended.

According to Mu’azu, bank customers have been given suffice time and CBN expected they should have taken advantage of the period scheduled for the exercise to register.
Contrary to the speculation that customers who do not have BVN will be prevented from making transactions, such as payments and withdrawals, Mu’azu said only customers using remote access services: internet banking, Automated Teller Machines (ATMs) and other on-line services would not be able to transact.
He also confirmed that over 14 million bank customers have already registered.

Meanwhile, here are important information to guide you when 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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