Bank Verification Number

The Central Bank of Nigeria in collaboration with all Nigerian Banks launched Bank Verification Number (BVN) project in February 14, 2014.

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BVN Project

Identity theft and fraudulent transactions have become a menace to the global banking system in recent times. In order to ensure trust relationship in the Nigerian banking system is not undermined, The Central Bank of Nigeria in collaboration with all Nigerian Banks launched Bank Verification Number (BVN) project in February 14, 2014.

The BVN uniquely identifies every customer across the Nigeria Banking industry using biometric details. It is a requirement for operating a bank account in Nigeria as no withdrawal shall be made on accounts without validated BVN (customers in diaspora accounts were exempted till January 31, 2016).

Benefits

The benefits of the project among others include:

BVN gives a unique identity that can be verified across the Nigerian Banking Industry.
Customers’ bank accounts are protected from unauthorized access.
It will address issues of identity theft, thus reduce exposure to fraud.
It will enhance the credit system in the Nigerian Banking Industry.

How To Enrol In Nigeria

Get to any Moneyfield MFBank branch and fill out enrolment form
Present yourself for biometric data capture at the branch
Enrolment Ticket ID will be issued you at the end of biometric capture exercise
BVN will be sent to you via sms after 48 hours of enrolment
You can check your BVN from your 9mobile, Airtel or MTN line by dialling *565*0# after 48 hours of enrolment.