As per new guidelines announced by the Central Bank of Nigeria, the norms of the process have been made easier. Nigerians staying in foreign countries will be able to get their BVN numbers from their countries of residence. They will not have to come to Nigeria for this purpose.
To begin with, the service has been started in a handful of cities, which include London, Dubai, Leicester, New Delhi, Washington DC, Johannesburg, Shanghai, Guangzhou, New York, Beijing, and Houston.
If any Nigerian who is residing in any one of the above mentioned cities wants to register, he/she shall have to physically visit any of the branches of the bank or any of their subsidiaries where this registration process of BVN is available.
According to a press statement issued by CBN, “The deployment of scanners and devices to these locations has started in earnest. 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 has been made which will manage the linkage part through the Nigerian Interbank Settlement Systems (NIBSS). Initiative by CBN for BVN was supposed to end on June 30th, but was later postponed till end of October.
The BVN or Bank Verification Number system was introduced by CBN to put biometrics, pictures and updated details on every bank account in order to curb fraud and money laundering uprising in the country.