UNDERSTANDING BVN
BVN SPECIAL ANNOUNCEMENT!
For some of Nigerians that are yet to have BVN(bank verification number), should strive to have it. Today while watching NTA "Good morning news" CBN has made 30th June the dead line for BVN as it will affect any transactions after 30thjune including access to ATM. Also please Don't update or register for the bvn online please. That's a new scam method, banks would not be liable for any fraud on your account. Go to any bank and do it and if they clear your account or have cleared it, that should serve as a lesson to do the right thing at the right time in the right way.
What actually is BVN:
After making some inquiries today, we discovered that some individuals don't even know what BVN is. While some are still asking what's the penalty if one fails to do.
Please BVN stands for Bank Verification Number.
The BVN was introduced by the Central Bank of Nigeria and was launched February 14th last year. It is the registration of customers in the financial system using biometric technology. Biometric technology involves the process of recording a person’s unique physical traits such as fingerprints and facial features.
This record can then be used to correctly identify the person afterwards. Once a person’s biometrics has been properly captured, the person is given a Bank Verification Number or BVN.
According to the CBN, The objective of the BVN initiative is to protect bank customers, reduce fraud and further strengthen the Nigerian banking system. Fraud is reduced because no two people have the same biometric information. Banks will therefore be able to c
heck the features of a person doing a transaction against the record, which the bank has captured thereby correctly identifying the owner of an account.
Enrolment
To enroll for the BVN, bank customers have to visit a branch of their bank, complete and submit the BVN enrolment form, after which, the biometric information such as fingerprints and facial imagery are recorded. The customer is then issued an acknowledgment slip with transaction ID. Thereafter, BVN is created and the customer is alerted via SMS to arrange for pick-up.
Fast-Track Measures
In order to fast-track enrolment of customers for the BVN, the CBN October last year, stipulated targets and deadline for banks. The apex bank also made the BVN a condition for accessing loan.
Please endeavour to obtain yours
BVN SPECIAL ANNOUNCEMENT!
For some of Nigerians that are yet to have BVN(bank verification number), should strive to have it. Today while watching NTA "Good morning news" CBN has made 30th June the dead line for BVN as it will affect any transactions after 30thjune including access to ATM. Also please Don't update or register for the bvn online please. That's a new scam method, banks would not be liable for any fraud on your account. Go to any bank and do it and if they clear your account or have cleared it, that should serve as a lesson to do the right thing at the right time in the right way.
What actually is BVN:
After making some inquiries today, we discovered that some individuals don't even know what BVN is. While some are still asking what's the penalty if one fails to do.
Please BVN stands for Bank Verification Number.
The BVN was introduced by the Central Bank of Nigeria and was launched February 14th last year. It is the registration of customers in the financial system using biometric technology. Biometric technology involves the process of recording a person’s unique physical traits such as fingerprints and facial features.
This record can then be used to correctly identify the person afterwards. Once a person’s biometrics has been properly captured, the person is given a Bank Verification Number or BVN.
According to the CBN, The objective of the BVN initiative is to protect bank customers, reduce fraud and further strengthen the Nigerian banking system. Fraud is reduced because no two people have the same biometric information. Banks will therefore be able to c
Enrolment
To enroll for the BVN, bank customers have to visit a branch of their bank, complete and submit the BVN enrolment form, after which, the biometric information such as fingerprints and facial imagery are recorded. The customer is then issued an acknowledgment slip with transaction ID. Thereafter, BVN is created and the customer is alerted via SMS to arrange for pick-up.
Fast-Track Measures
In order to fast-track enrolment of customers for the BVN, the CBN October last year, stipulated targets and deadline for banks. The apex bank also made the BVN a condition for accessing loan.
Please endeavour to obtain yours
Posts
