The Central Bank of Nigeria has mandated that all bank customers connect their National Identification Number (NIN) and Bank Verification Number (BVN) to their bank accounts.
In a circular dated December 1st, 2023, the apex bank instructed banks to impose restrictions on all Tier 1 bank accounts lacking BVN.
Tier 1 accounts are those which can be opened with either a valid identity or proof of address.
While certain banks specified February 29, 2024, as the cutoff date, others did not mention any deadline.
The National Identification Number (NIN) comprises 11 randomly generated non-intelligible numbers allocated to individuals upon enrollment in the National Identity Database (NIDB).
The Bank Verification Number (BVN) employs biometric technology to create a secure unique identifier by analyzing human characteristics, serving as an advanced authentication method for real-time security procedures.
To connect your BVN or NIN to your bank account, you can utilize one of the following methods:
Through SMS: Just send your BVN/NIN, along with your account number, to the designated number/code provided by your service provider or bank.
Using Internet Banking: Access your bank’s internet banking platform, choose the BVN/NIN option, initiate a new request, input your BVN/NIN, specify the bank where your BVN/NIN was issued, respond to the secret questions, and adhere to the prompts provided.
Email Request: Submit an email request to your account officer.
In-Person Visit: Make a trip to your nearest bank branch.
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