Bank Verification Number (BVN) is a unique identification number (11 digits) issued to every bank customers and linked to every bank accounts that the customer has in all banks in Nigeria.
The BVN was launched by the Central Bank of Nigeria (CBN) on February 14, 2014 in collaboration with the Banker’s Committee as a centralized biometric identification system for the Nigerian banking industry.
Purpose of BVN
The primary aim of creating the unique identification number for bank customers is to stem the increasing case of identity fraud in the banking industry.
Other objective of BVN includes:
To use BVN information as a means of identifying and verifying all individuals that have account(s) in any Nigerian bank and as a means of authenticating customer’s identity at the point of transactions.
To provide a uniform industrially accepted unique identity for Bank Customers
To authenticate transactions without the use of cards using only biometric features and PIN.
Identification of blackliste
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