Do you want to know how to register for your BVN online, or how you can successfully carry out your online registration for free without stress or complications? Then look no further, as, in this article, we shall be showing you all you need to know about this. So sit tight, and calmly go through this article.
Carrying out your BVN registration can be really stressful, and coupled with the fact that the Nigerian government has made it compulsory for anyone who has an account in any bank in the country must have this unique number, it is necessary that you know what it is before you go ahead to register for it even though it is compulsory.
Finally, we shall be looking at the steps involved in how to register for your BVN online, or how you can successfully carry out your online registration for free without stress or complications. These steps will guide you properly so as to ensure that you do not make any mistakes in your attempts to create one.
How to register for your BVN online, or how you can successfully carry out your online registration for free without stress or complications allows you to figure out how you can actually see those step by step procedures required to create a BVN profile. Before that, let us quickly look at what it is all about.
Formally known as Bank Verification Number but commonly known as BVN, it is actually a concept put in place by the controlling financial body of the country which is the Central Bank of Nigeria which is commonly known as the ‘bank of bankers’.
This brainchild of the Central Bank of Nigeria is actually a biometric system of identification that is unique to any bank account holder in the country. The intention behind the creation of this concept is to help curb or reduce the high cases of financial crimes that relate to bank transactions in the country.
The establishment or creation of this system is backed by law as stipulated by the Central Bank of Nigeria Act 1958 which is more like a security measure that has been put in place, or that has been carefully set up to curb or reduce the incessant cases of fraud that has plagued the banking sector.
How does this work, one may ask? The simple answer to that actually lies with the simple and less complicated measures involved in ensuring that the system works perfectly. It achieves its aim of reducing fraud by recording fingerprints and facial photographs of account holders.
The Bank verification number comprises of 11-digit number that, like we stated earlier, is completely unique to any other customer,. That is to say, no two individuals bear the same number or have any form of similarities with each other’s numbers.
Any account user who has been issued with a BVN, it is linked to all his existing accounts. In a situation where he creates another account anywhere in Nigeria with any other bank different from the banks he has an existing account or accounts with, he would be required to provide his BVN before he can successfully create the account.
Without the BVN, you cannot own or operate a bank account in Nigeria, as it has been made compulsory by the Federal Government, through the Central Bank of Nigeria, which has directed banks not to allow persons without BVN to own or operate accounts in their banks.
Again, the BVN never changes, as once it is issued to you, it remains the same. You are not required to change it or renew it over time. It remains the same. Owing to its relevance in carrying out financial transactions, it has been made easily accessible through USSD codes from the mobile phone number that has been linked to it upon registration. You can also ask your bank to disclose this to you if you are within the banking hall.
There have been various debates about the need or necessity or the possibility of linking all your various accounts to one number. These debates which may seem logical, have been turned down, as the need for the BVN cannot be overemphasized, and thus, it has come to stay
How to register for BVN online – www.cbn.gov.ng BVN Online Registration
How to register for your BVN online, or how you can successfully carry out your online registration for free without stress or complications is actually something that is completely feasible, and you can achieve it in less time.
Before you go ahead and register, it is important that you know what is required of you. Like the name implies, it would involve biometric capturing. This means you would have to scan your fingerprints at the point of registration. You would also have your facial recognition taken by way of photographs.
You will also be required to provide your recent passport. Then, you will be asked to sign your signature digitally, using some sort of electronic pen.
To successfully register, kindly walk into your bank and meet your customer care representative who will fill you in and get you started right away on the online registration of your BVN.
For more information on the BVN registration or other important facts or inquiries, kindly reach to this website by clicking on www.cbn.gov.ng.
Thank you for going through this article on how to register for your BVN online, or how you can successfully carry out your online registration for free without stress or complications. We hope you found it helpful. Kindly leave a comment in the comment section for further info and questions.