If you’re looking to open a bank account in Nigeria, or you already have one, chances are that you have heard about BVN registration.
BVN stands for Bank Verification Number, and it’s a unique identifier that is assigned to every customer in the Nigerian banking system.
The Central Bank of Nigeria implemented BVN registration in 2014 to combat identity theft, fraud, and other related offenses in the Nigerian financial sector. Since that time, opening and maintaining a bank account in Nigeria now calls for BVN registration.
If you haven’t registered for BVN yet, now is the time to do so. Not only is it a requirement, it also offers many benefits that can unlock banking opportunities for you.
Firstly, BVN registration is a one-time process, which means you only need to do it once. Once you’ve registered and your details have been verified, you can use your BVN to access a wide range of financial services from any bank in Nigeria. This includes opening and maintaining bank accounts, applying for loans and credit facilities, and carrying out financial transactions like transfers, withdrawals, and payments.
Secondly, BVN registration provides an added layer of security for your financial transactions. Your BVN is linked to all your bank accounts, which means that if any unauthorized transaction occurs on any of your accounts, it can easily be traced back to you. This ensures that your money is safe and secure, and you can carry out your financial transactions with peace of mind.
So, how do you register for BVN? The process is straightforward and can be done in any bank branch in Nigeria. Here’s what you need to do:
- Visit any bank branch with a valid means of identification (National ID Card, Driver’s License, Voter’s Card, or International Passport).
- Fill out a BVN enrolment form with your personal information, such as name, date of birth, and address.
- Provide your biometric data, including your fingerprints and a photograph.
- Your details will be verified, and you will receive your BVN within 24 hours.