How to get a Bank Verification Number – According to recent data, the Central Bank of Nigeria says over 57 million Nigerians have enrolled for their Bank Verification Numbers (BVN) as of March 31, 2023.
This indicates a 5% increase when compared to the 54.65 million records enrolled in the first half of 2022.
The arrival of BVN
The Central Bank of Nigeria introduced the BVN in February 2014, a strategic financial reform in collaboration with the Banker’s committee to protect the integrity of the financial system in Nigeria.
The interbank settlement system NIBBS generates the 11-digit BVN for every account enrolled and provides a secure database for them.
How BVN works
Upon registration of the BVN by each customer, such BVN is linked to all accounts held by the customer across banks.
NIBBS uses a biometric solution to strengthen to register each customer who is expected to provide a valid ID which includes but is not limited to:
- Voter card
- Driver’s license
- National ID card or
- International Passport
On successful registration, the 11-digit BVN is expected to be available within 24-48 hours, after which you the customer are expected to make it available for linking to their bank account.
Why CBN introduced BVN
- The Wade against crime/theft and unauthorized access into a customer’s account
- There are situations where fraudulent customers go around and open several accounts with different banks and different identities, BVN ensure that such act is brought to her knees
- It aimed to prevent criminal politicians (PEP) from moving stolen funds at ease.
How to get Bank Verification Number
If you follow the CBN regulatory guidelines on BVN, you will understand that it’s a must for every customer and account holder in Nigeria to be enrolled in BVN.
Noncompliance with this order will alienate such a customer from accessing financial services with Nigerian financial institutions.
To get a BVN, you will need to be registered for it on the NIBBS platform through a preferred bank.
Step one: Pick up your valid ID card which could be;
- Voter card
- Driver’s license
- International Passport or
- National ID card
Be sure to have your correct name written on any of the IDs, this should apply to the name in your bank account.
Step two: Visit any Nigerian commercial bank of your choice and inquire about enrolling for a BVN
Step three: You will be required to complete a BVN enrollment form, and complete the form with your details as seen on your preferred and valid ID card.
Provide any other additional detail required on the form.
Step four: You will undergo biometric capturing for fingerprints and facial identification on the NIBBS portal, thereafter a customer/ticket ID will be given to you.
Your BVN will be ready within the next 24-48 hours via SMS depending on the backlog.
Where an SMS was not delivered, kindly visit the bank for your 11-digit BVN on an advised date.
How do I create BVN?
Unfortunately, you cannot create BVN on your own, to enroll, you will need to visit a commercial bank in Nigeria with a valid ID card, complete an enrollment form, undergo biometric capturing, and your BVN will be ready in a few days.
How do I get my BVN code with MTN?
The method to retrieve your BVN is available to all networks not specific to MTN.
From your registered phone number on BVN, dial *565*0# and wait for your 11-digit BVN to be displayed on your screen.
You are required to have at least N20 on your phone to access this service successfully.
How do I get my BVN number online?
You can get your BVN online by logging into your mobile App, some banks have the BVN displayed conspicuously on the app dashboard when you log in.
You can also check your BVN details online when you log into the advised NIBBS portal, the details here are; your name, phone number, and date of birth.
Which app can create BVN?
There’s no generally accessible app to create BVN, however, BVN can only be created when you have been fully enrolled for it on the NIBBS portal.
How can I get my BVN number without to the bank?
NIBBS is working hand-in-hand with Telcos to ensure you can access your BVN from the comfort of your location in real-time/247.
Kindly dial *565*0# from your phone linked to BVN, YOUR 11-digit BVN will be displayed on your screen. You will need to have at least N20 on your phone to access this service.
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I hope this guide answers your question on “How to get Bank Verification Number,” in Nigeria. However, understand the purpose for which BVN was created, enroll with any commercial bank, link your accounts, and enjoy all services attached without restrictions.