Nigerians in the diaspora can now do the registration for the Bank Verification number(BVN) enrollment exercise
In a circular dated August 18th and which was signed by the Director of Banking and Payment System of apex bank of the country(CBN), Nigerian bank customers in the diaspora can do their registration via option one; present themselves to the offshore branches/subsidiaries of any Nigerian bank (where such facilities have been made available), for the BVN enrollment.
The Bvn is a code/pin which is meant to be used by Nigerian across the Nigerian banking industry to ease the banking experience of Nigerians and prevent criminal activities.
It also serves as a means of identification across banks.
According to him, The deployment of scanners and other devices necessary for the exercise, have been sent to different locations abroad and Nigerian banks abroad are expected to capture necessary data, generate a BVN and communicate same to the customers. Thereafter, the customers are expected to forward the assigned BVN to their banks, for linkage with their accounts.
A web portal to achieve this linkage to bank accounts has been developed and deployed, while the process of such linkage will be made available by the Nigerian Interbank Settlement System (NIBSS) to all those enrolled abroad,” the circular stated The second option is through the use of an company known as the Online Integrated Solution (OIS).
The company will establish stations for data capture and generation of BVN at the cost of £30 per transaction which is to be paid by the customer. The company is expected to capture necessary data for online transmission to the NIBSS, who would thereafter, generate the BVN and communicate same to the customer.
“The customer may approach OIS for BVN, where the communication from NIBSS is not received within 48 hours after the enrolment. Thereafter, Nigerian bank customers in the diaspora are expected to forward their BVN to their banks for linkage with their accounts as in option one above,” it explained.
The Bank Verification Number registration exercise in Nigeria has been extended to October 31st.