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 securityA BVN number limits unauthorized access to your account, as certain transactions on account require the use of a BVN.
  • Fast track servicesHaving 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? 

Business day

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.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

1 COMMENT

  1. Please,there is problem in my picture on bvn.my names account number an my address is correct the picture there is not my picture an I want to do something inportant on my bvn now.my Tom print fingers are not capture.please what can I do now.

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