The Federal government has obtained an interim court order seizing funds in accounts with no Bank Verification Number (BVN) or incomplete Know Your Customer (KYC) details. The government will most likely give a window for customers to claim such funds and enroll for a BVN.
Steps to follow to register for your BVN
- Go to any commercial bank with a valid ID card and fill a BVN enrollment form.
- After this, your biometrics (finger prints and photograph) will be captured.
- After capturing, you will be given a ticket ID.
- Your BVN will then be sent to your phone number after a few days.
Benefits of having a BVN
- Used across all banks: A BVN number is an acceptable form of identification for banking transactions across all banks in the country.
- Enhanced security: A BVN number limits unauthorized access to your account, as certain transactions on account require the use of a BVN.
- Fast track services: Having a BVN lowers the time spent in a bank, as banking staff do not need additional verification of your identity.
What of Nigerians based abroad (Diaspora)?
Nigerians based abroad can register for BVN at enrollment centers located in the United States of America, United Kingdom, United Arab Emirates, South Africa, China, France, Canada, India, Brazil, Italy,. Follow this link for more. You will be expected to provide your International Passport as valid ID.
What happens if i forget my BVN number?
You can retrieve your BVN number by dialing 5650# to check the status of your BVN. This might cost you N10.
The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee, introduced the BVN on February 14, 2014. About 20 million bank accounts have been registered so far.