Saturday, September 26

NIBSS, telecom operators collaborate on BVN registration

In a bid to further enhance the process of bank verification of customers across the nation, the Nigeria Interbank Settlement System (NIBSS) said it has entered into partnership with telecom operators in Nigeria.

The partnership will enable bank customers who have already completed their BVN registration to use their telephone numbers to request for their BVN from the NIBSS at anytime. However, this will be made possible by dialling the short code *565*0# on any of the telecom networks. Reportedly, only telephone numbers submitted by customers during the registration process can be used for the service.

Only one (Etisalat) out of four of the GSM operators in the country has gone live with the service, while Airtel is not far off. However, Airtel customers will be able to make use of the service from Wednesday September 16 2015.

In a media briefing to announce the partnership, the Managing Director/Chief Executive Officer, NIBSS, Mr. Ade Shonubi, said the partnership was to encourage more Nigerians to enrol for the BVN. Mr. Shonubi disclosed that about 20 million bank customers now have their Bank Verification Number.

NIBSS, telecom operators collaborate on BVN registration News Technology: General

Mr. Shonubi explained: “For those of us who are not aware of the objective of the BVN, there are three major cardinal objectives: First of all, it is to assist the banking industry with Know-Your-Customer (KYC) services. So, it will help them in verifying the people who come to open an account. Secondly, it is to help the industry to give some form of comfort to people who want to take credit and thirdly, we want to be able to identify fraudsters and put them in their place. We should be able to blacklist them and ensure that they don’t come back to the industry.

“Specifically, to the customers, the advantage is that a customer that has account numbers with four or five banks, if you can’t remember your account numbers, with just your BVN, you can access any of all those banks,” he explained.


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