BANK VERIFICATION NUMBER (BVN) IN NIGERIA

The enrollment of a Bank Verification Number (BVN) is an essential process that plays a significant role in the Nigerian banking sector. BVN is a unique identification system introduced by the Central Bank of Nigeria (CBN) to curb fraud, enhance security, and ensure a smooth working financial transaction. The BVN serves as a means of verifying the identity of individuals conducting financial activities in Nigeria.

The BVN is an 11-digit number that is unique to each individual and it can be used in all bank institutions by the same individual. An individual must first have a bank verification number before being able to operate a banking account in Nigeria. The Central Bank of Nigeria (CBN) through the Banker’s Committee and in collaboration with all banks in Nigeria launched the centralized biometric identification system for the banking industry. However, if there has been an enrollment for BVN previously, there cannot be an enrolment again as it would not generate a new BVN.

 

THE IMPORTANCE & BENEFITS OF BVN

The Bank Verification Number (BVN) system in Nigeria provides several benefits which can be summarized as follows:

  1. BVN gives a unique identity that can be verified across the Nigerian Banking Industry (not peculiar to one Bank) and is accepted as a means of identification across all Nigerian Banks.
  2. BVN addresses issues of identity theft, thus protecting customers’ bank accounts from unauthorized access and exposure to fraud.
  3. BVN enhances the Banking Industry since blacklisted customers would be easily identified, this would sequentially encourage retail lending by mitigating identification and tracking issues.
  4. Enhanced Security: BVN enrollment enhances the security of financial transactions by verifying the identity of the individuals. It helps to prevent identity theft, fraud, and other forms of financial crimes. With a BVN, banks can authenticate the identity of customers and ensure the safety of their financial assets.
  5. Quick and Effective Services: BVN enrollment enables faster and more efficient banking services. With a BVN, customers can access services such as instant bank account opening, electronic funds transfer, mobile banking, and other digital platforms conveniently. It eliminates the need for time-consuming manual verification processes and improves overall customer experience.

 

REQUIREMENTS FOR ENROLLMENT OF BVN

To enroll for a Bank Verification Number (BVN) in Nigeria, individuals are typically required to provide the following documents and information:

  1. Valid Identification Document: A valid identification document to prove your identity will be needed. Acceptable identification documents include:
  • Nigerian International Passport
  • Nigerian National ID card
  • Nigerian Drivers License
  • International Passport (Non-Nigerian)
  1. One recent passport photograph
  2. BVN Enrollment form, which will be provided at the enrolment center or banks. The form will require you to provide personal information such as your full name, date of birth, phone number, email address, and next of kin details.
  3. Enrolment fee or evidence of payment of enrolment fee (applicable only for enrollment outside Nigeria)

ENROLLMENT CENTERS

Domestic: The enrolment of BVN can be done in any banking hall within Nigeria.

Overseas: Both Nigerian citizens and foreigners are eligible to obtain BVN. The following are locations where BVN can be obtained outside Nigeria:

LONDON: OIS Services, 56-57 Fleet Street, London ECAY 1JU, UK

Opening times:  Monday to Friday (10 am – 4 pm)

30 pounds enrollment fee (Card payment only.)

Tel: +44 (0) 20 7832 0001

 

LEICESTER: OIS Services, St Georges House, 6 St Georges Way, Leicester LE1 1SH, UK

Opening Times: Monday to Friday (9:00 am – 12:00 pm, 2:00 pm – 4:00 pm)

30 pounds enrollment fee (Card Payment only.)

Tel: +44 (0) 20 7832 0001

 

BEIRUT: OIS Services, Jnah-Beirut Opposite Rafik Hariri University

Hospital Mais 6 Building- 3Rd Floor

P.O. Box 9 UNESCO

Opening Times: 9am-4 pm

Enrolment fee: $45 or 68000 Lebanese Pounds

Help Desk: infobeirut@oisservices.com

Tel: 009611845138

 

WASHINGTON: OIS, Washington DMW, 11900 Parklawn Drive, Suite 160, Rockville, MD, 20852.

Opening times: Monday to Friday (9:00 am – 4:00 pm)

$45 enrollment fee, Payment method: Credit or Debit Card

Tel: +1301-231-1700

 

DUBAI: OIS SERVICES, 22A (22nd floor), Silver Tower, Cluster I, Jumeirah Lake Towers. Dubai, U.A.E.

Opening times: Sunday to Thursday (9:00 am – 4:00 pm)

180 AED enrollment fee

Tel: +971 42765448

 

JOHANNESBURG: OIS SERVICES, 6 Bolton Road Parkwood Rosebank, 2193. Johannesburg. SA.

Opening times: Monday to Friday (9 am-4 pm)

R15 enrollment fee. Payment method: Point-of-Sale

Tel: +27 112682376; +27 112682470

 

BEIJING: OIS SERVICES, Unit 1 Suite 1801, Kun Sha Building, 16 Xin Yuan Li Str, Chaoyang District, Beijing PRC

Opening times: Monday to Friday (9 am – 4 pm)

RMB300 enrollment fee

Tel: +86-1084004549

 

GURANGZHUO: OIS SERVICES, Unit 27/28, 41st Floor, R&F To-Win Building, 30 Huaxia Rd, Tianhe District, Guangzhou PRC

Opening times: Monday to Friday (9:00 am-4:00 pm)

Rmb300 enrollment fee

Tel: +862089196634

 

ATLANTA: OIS Services, Suite 204, 918 Holcomb bridge road, Roswell, Atlanta, GA 30076

Opening times: Monday to Friday (9:00 am – 4:00 pm)

$45 enrollment fee.Payment method. Credit or Debit card, Money order in favor of Online Integrated Solutions Inc.

Tel: +1 4046956373

 

HOUSTON: OIS Services, Suite 745, 9894 Biossonet Street, Houston, TX 77036

Opening times: Monday to Friday (9:00 am-4:00 pm)

$45 enrollment fee. Payment method: Credit or Debit Card only.

Tel: +1 713-771-1871

 

MUMBAI (MAHARASHTRA): OIS Visa Services. Quest Offices Pvt. Ltd., 8th Floor, Parinee Crescenzo.

C38 & 39, G Block, Bandra

Kurla Complex, Bandra( East) Pin:400051, Maharashtra, India

Opening times: Monday to Friday (10:00 am – 12:30 pm & 2:00 pm – 4:00 pm)

Rs.3600 enrollment fee

Tel: +91 22 488000743

 

NEW DELHI: OIS Visa Services, C/O Central Board of Irrigation & Power Plot No.  4, Ground Floor, Institutional Area Opp, Sarvodaya School Malcha Marg, Chanakyapuri New Delhi, India.

Opening times: Monday to Friday (10:00 am – 12:30 pm & 2:00 pm-4:00 pm)

Rs. 3600 enrollment fee

Tel: +91 11 -4721 9050. +91 88000530119

 

ROME: Online Integrated Solutions S.R.L., Via Silicia, 30 00187 Rome, Italy

Opening times: Monday to Friday (10 am – 4:00Pm)

40 enrollment fee. Payment method: Credit or Debit card only

 

LOS ANGELES: OIS Services, Suite 718, 5757 West Century Blvd, Los Angeles, CA 90045

Opening times: Monday to Friday (9:00 am – 4:00 pm)

$45 enrollment fee: Payment method: Money order in favor of Online Integrated Solutions Inc.

Tel:+1 301 231 7000

 

NEW YORK: 370 Lexington Ave, Suite 613 New York, NY 10017.

Opening times: Monday to Friday (9:00 am – 4:00 pm)

$45 enrollment fee. Payment method: Credit or Debit Card

Tel: +1 917900 1114

 

PARIS: 7 rue Daru, 75008 Paris France (1st Floor)

Opening times: Monday to Friday (9:00 am – 12:30 pm and 1:30 pm -4:00 pm)

40 enrollment fee. Payment method: Cash

Tel: +33 758 07 7611

 

KUALA LUMPUR: 36.01 Level 36 Menara Citibank, 165 Jalan Ampang 50450 Kuala Lumpur, Malaysia

Opening times: Monday to Friday (9:00 am – 12:00 pm) and 1:00 pm – 5:00 pm)

RM200 enrollment fee.

Tel: +60321697000, +60321697003

 

THE HAGUE: First Floor, Regus Building, Koningin Juliana Plein 10.

Postcode 2595AA, The Hague Central station, Netherlands.

Opening times: Monday to Friday  (9:00 am – 12:30 pm and 1:30 pm – 4:00 pm)

40 enrollment fee

Tel: 0031708915324

 

ANKARA: OIS Services Danisimanlik Ltd. Sri Kazim Ozalo  MH. Koza Sk. No: 35/3 Cankaya/ Ankara

Opening times: Monday to Friday (9:00 am – 12:30 pm and 2:00 pm – 4:00 pm)

40 enrollment fee.

180 Turkish Lira enrolment fee

Tel: 00903124382175, 00903124382176

 

THE HAGUE: OIS Services First Floor, Regus Buiding, Koningin Juliana Plein 10. Postcode 2595AA, The Hague Central Station, Netherlands.

40 enrollment fee.

Opening times: Monday to Friday (9 am to 5 pm)

Email: infothehague@oisservices.com

Telephone no: 0031708915324

 

CAIRO: OIS Services, Building 51, Mitchel Bakhoum Street, Dokki

Opening Times: Sunday to Thursday (10 am – 5 pm)

E£ 1500 enrollment fee. (Cash & Card payment)

Tel: +20 237 627 293 or +20 237 627 294

 

In closing, the Bank Verification Number (BVN) is of great importance in Nigeria’s banking system. It serves as a unique identifier for individuals, allowing for easy identification and verification across various banks. Individuals can have a single identification number that is accepted by all banks in Nigeria. The BVN has various benefits, including enhancing the security of banking operations, reducing fraudulent activities, and promoting financial inclusion. It also enables seamless account opening, banking transactions, and access to financial services, Additionally, the BVN helps in curbing identity theft, money laundering, and other financial crimes.

Conclusively, it is a mandatory requirement for any person seeking to be a signatory of any Nigerian bank account to have a BVN.

 

By Resolution Law Firm

Email: info@resolutionlawng,com