The Bank Verification Number (BVN) stands as a Biometric technology that employs a secure and distinctive identifier to assess human traits, acting as an upgraded method of authentication for real-time security procedures.
Initiated by the NIBSS to bolster the security of Nigerian financial institution customers, the BVN comprises an exclusive 11-digit ID number, accessible for verification across all financial establishments within Nigeria. To establish a customer’s identity, their BVN is linked to three biological attributes: Fingerprints, Signature, and Facial photograph, all recorded during enrollment.
The BVN seamlessly validates and confirms customers’ identities across multiple interoperable electronic platforms. Its database provides essential biodata like names, phone numbers, addresses, and dates of birth for individuals.
As of March 2023, approximately 57 million Nigerians possess unique BVNs, intrinsic to each individual whose information has been captured. This database remains the most reliable and extensive source of data within the Nigerian Financial Industry.
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Bank Verification Number Summary
The Bank Verification Number (BVN) is a distinctive identification number given to each bank customer upon enrollment, and it is linked to all their accounts across ALL Nigerian banks. During enrollment, individuals are required to provide an acceptable form of identification.
Enrollment is time-sensitive, and customers must register within a specified period. Failure to do so will result in the inability to access their bank accounts. During enrollment, all ten fingers and facial images will be captured for biometric identification.
For authentication purposes, individuals conducting banking transactions, such as loan applications, will need to verify their identity using their biometric features. These features will then be cross-referenced with information stored in the central database. For more loan options, read our comprehensive list on USSD Code for Loan in Nigeria.
Customer information updates must be done physically at their respective bank branches. Additionally, during account opening and credit checks, banks will be notified if a customer has been blocklisted by any Nigerian bank.
To perform transactions, individuals will use their BVN and unique biometric features in conjunction with a PIN at the point of the transaction.
How to Enroll and get your BVN
- Visit any of your Bank’s branches.
- Complete and submit the enrolment form for the bank verification number.
- Appear in person for data capturing, which may include fingerprint and facial image capture, among other details.
- You will receive an acknowledgement slip containing the transaction ID.
- The system will verify your application within 24 hours, generating your BVN, and notifying you via SMS for collection.
How to Verify and Update Your BVN Online
To securely check and update your BVN information, you can use the NIBSS platform, eliminating the need to visit the bank for inquiries or corrections regarding your name, birth date, or phone number.
Before accessing details like your name, contact information, or address through the NIBSS Validation Portal, there are certain prerequisites to fulfil. NIBSS is implementing changes to enhance the data privacy of banking customers. Now, consent from BVN holders will be verified before sharing their BVN information.
Here’s how the consent process works:
- Consent will be obtained using the NIBSS Platform, involving a token sent to the holder’s registered email or phone number.
- The holder must provide this token to confirm consent and complete the validation.
- Consent verification begins promptly after payment is made.
- Validation of multiple BVNs will no longer be supported.
To check your BVN status online, follow these steps:
- Visit the NIBSS BVN validation portal.
- Enter your bank verification number and the date of birth used during registration.
- Click the search button.
- You’ll see various options for payment. Pay the ₦25 verification fee through your preferred method.
- After completing the payment process, you’ll be directed to a page displaying your information.
- Make sure to take note of your phone number and other details on the last page. You can either print it out or take a screenshot for future reference.
Some banks offer the option for customers to update their contact information online, primarily their phone numbers. However, customers must utilize the bank’s official communication channels to contact their customer support department. The customer support representative may inquire about the following details:
- BVN Number
- Full name used for BVN registration
- Date of birth used during registration
- National Identification Number (NIN)
- Desired new mobile number
Always exercise caution and avoid falling victim to online fraud by refraining from providing personal information to fake accounts or individuals disguising themselves as helpers. Stay vigilant to safeguard your information.