I am so sure that the Bank Verification Number (BVN) registration message with the deadline clearly stated, has gotten to many, if not all Bank Customers in Nigeria. I use Diamond Bank, GTB, UBA and Enterprise Bank. Let me quickly clear the air that I don’t have money in 2 of those accounts. They are just accounts I opened because I must. I opened my GTB account when my Alma mater forced us to open it so that they can pay our SIWES allowance into it. It might interest you to know that the money has not been paid since 2008. Well, maybe not yet.
GTB Bank Verification Number (BVN) Acknowledgement Slip
I opened my UBA account because I needed to get a UBA Africard to make payment on any website online. I found out later that I didn’t need to open an account to get a UBA Visa card called Africard. I no longer use because we can now register Paypal in Nigeria.
So, what is a Bank Verification Number?
By way of clarifying what the BVN is, the Bank Verification Number is series of numbers that uniquely identifies each customer in the Nigerian banking industry. This is a directive issued by the Central bank of Nigeria to all banks to carry out;
- Enrolment process for Customers without existing BVN
- Update BVN for existing Customers with BVN from other Banks
Benefits of the BVN for a Nigerian Bank account holder
So, what are the advantages of this BVn or why is it so important that commercial banks have dedicate personnels whose sole responsibility is to woo customers to sacrifice some time to register for their Bank Verification Number? This must be really important. Here they are:
The purpose of this exercise is to further improve financial service delivery by:
- Protecting you against identity theft
- Minimising your exposure to fraudulent transactions
- Increasing your accessibility to credit facilities and other financial services.
How to register for the BVN on your own?
Someone already asked me if there is a website they can go to to register their own Bank Verification Number. Is this possible? NO! Someone (a First Bank account holder) even protested that Banks should have created online portals, where people can go to and register their BVN by themselves. This way, they won’t have to waste time queueing at Banks.
I would say, if they do it that way, it defeats the whole essence of the exercise because people would do all stuffs to prepare their accounts for fraudulent use. Secondly, they need to get a copy of a valid ID card of you, a picture of your face and your finger prints. You think everyone would have access to electronic devices for for data capture?
So, when is the closing date for registration?
Deadline for registration for the BVN, according to the message sent to me by GTB, is in 2015. This exercise is mandatory for all individual customers and must be completed before June 30th, 2015. You can go to www.bvn.com.ng for more information.
IMPORTANT NOTE: After data capture, Acknowledgement slip with ticket ID will be given after enrolment. Your BVN will be sent to you via SMS and/or Email.
Have you gone for your own registration? You can share your experience with us here!
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