The Bank Verification Number commonly called BVN is a biometric identification system implemented by the Central Bank of Nigeria to curb or reduce illegal banking transactions in Nigeria. It is a modern security measure in line with the Central Bank of Nigeria Decree to reduce fraud in the Nigerian banking system.
Only 20 million out of the 52 million active bank accounts have registered for the Bank Verification Number (BVN) exercise.
This suggests that about 32 million accounts remain without a BVN numbers. The deadline to obtain or register for BVN was October 31st, 2015 and unless accounts holders obtain their BVN by the deadlline, they risk being denied certain banking services.
The Central Bank of Nigeria (CBN) maintains there will be no extension after the new deadline. This means that customers without a BVN-inked accounts will be restricted from normal operations of their accounts or free access to their bank account balances.
The BVN is now a mandatory requirement for opening new bank accounts.
The CBN, in collaboration with the Bankers’ Committee, introduced the BVN on February 14, 2014.
The scheme is also expected to improve the banking system’s Know-Your-Customer (KYC) requirements as stated by the Financial Action Task Force (FATF), as well as to support innovative banking solutions, especially for retail banking.
Many Nigerians in diaspora could not travel to Nigeria by the deadline and some panicked at the probability of not being able to withdraw or transact any business using their Nigerian bank account. In a bid to solve this issue, legitimate centers have been setup across USA, UK, China, Malaysia, India, France and Italy where Nigerians can schedule an appointment and appear in person to apply for their BVN.
In the USA, there are centers located in NY, Washington Dc, Houston – Texas, Los Angeles and Atlanta and all you have to do if you are a Nigerian residing in the USA is to access the online scheduling, select a center that is convenient to you, schedule and receive a confirmation after booking your appointment (like the one below), show up on the appointment date and register for a BVN. It is advised that Nigerians in diaspora take advantage of the convenience of these centers and register to obtain their BVN as soon as possible. Source: Wikipedia/All Africa/Nigerian Celebrity Network
To make your appointment, please click on the link below:
Nigerian Bank Verification Appointment Scheduling
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