What is BVN

Bank Verification Number is a unique number assigned to every bank account as a mark of identity as directed by the Central Bank of Nigeria’s (CBN).

Why BVN

The Central Bank of Nigeria introduced BVN as a security measure, to identify everyone who uses financial services and as well reduce illegal banking activities in Nigeria.

How to Check Your BVN Online

There are situations where some fraudulent customers go about operating bank accounts with different identities at different banks, thereby causing financial mishaps.

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CBN through this implementation of BVN registration seek to put an end to unwholesome banking practices, through the use of BVN, a bank can easily identify if a potential customer who wants to access a facility has a debt to settle or is owing another bank, this helps to prevent bad loan.

CBN can now monitor how many accounts you have and how those accounts are being operated in case of Anti Money Laundry and Terrorism Financing (AML/TF) compliance.

Effects of not enrolling for BVN

Any bank account without BVN in Nigeria will not be allowed to carry out banking operations. You cannot make cash withdrawals, transfers or have access to services of any kind via your bank account if BVN is not linked to it.

All bank accounts without a valid BVN linked to it will be restricted and placed on PND (post no debit)

How to print your BVN data-page

Most people have disparity on their BVN data (name arrangement, date of birth), which is required to be updated or to confirm if an update previously done has been effected accordingly

Kindly follow the link below to verify your BVN details and also print a copy:

https://bvnvalidationportal.nibss-plc.com.ng/bvn-validation-portal/

NB: You will be required to pay N25 for the verification process.

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Follow my page for more articles on BVN update, change of name, phone number and date of birth requirement on BVN portal.

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