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CBN Insists Oct. 31 Remains Deadline for Obtaining BVN

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Godwin Emefiele - Bella Naija

The Central Bank of Nigeria (CBN) says Oct. 31 remains the deadline for bank customers to obtain their Bank Verification Numbers (BVN).

Dipo Fatokun, Director, Banking and Payment System Department (BPSD) of CBN re-affirmed this while speaking to journalists on Wednesday in Abuja.

Fatokun said that at the deadline, bank customers that had not enrolled for BVN would not be able to access their accounts.

“Last week Friday the bankers communicated that there is no extension on the BVN. If you have not registered go and register and of course submit your BVN to your bank, no extension on the deadline of October 31. By November 1 if you don’t have a BVN you won’t be able to operate your account, but that does not mean that your money will be confiscated as some people have said.

No, what it means is that you should go and do your BVN, once you do your BVN and you link it to your account, you continue to operate your account.’’

The News Agency of Nigeria (NAN) reports that BVN is a unique identity number that can be verified across the Nigerian banking industry.

It was inaugurated in February 2014 with the aim of protecting customers’ accounts from unauthorised access to reduce the incidence of theft and exposure to fraud.

The News Agency of Nigeria (NAN) was established by the Federal Government of Nigeria in May 1976 to gather and distribute news on Nigeria and cover events of interest to Nigeria at the international level for the benefit of the Nigerian Media and the Public.

9 Comments

  1. FasholasLover

    October 8, 2015 at 3:28 pm

    Nonsense. What is the purpose of this BVN? As at yesterday in London, you can no longer book slots on line to go do this damn thing. So, is Govt going to swallow the money of those who Hv yet to do it? I asked a banker in Naija and he doesn’t know. Or would they be issuing a cheque so you can keep your money under the mattress? Somebody is cleaning out with this BVN thang.

    • Boys Just Wanna Have Fun

      October 8, 2015 at 5:42 pm

      Don’t mind the jokers. London is fully booked so what are we to do? Leicester is still available though. But to go Leicester come back no be beans. Yeye govt.

    • Wale

      October 8, 2015 at 9:18 pm

      At least you guys in the UK have or had a choice, many Nigerians in diaspora including here in the USA have no place to go. Our embassy don’t even have a clue. So the whole thing is a joke. They have dum dums as the policy makers at cbn. Horribly planned exercise.

  2. Ms B

    October 9, 2015 at 7:05 am

    I live in France and was just discussing with another Nigerian how dumb some of the people in authority are in Nigeria.

    First of all, you create 12 locations to register for this BVN around the world, and as a Nigerian ( Dipo Fatokun, am talking to you), you should understand Nigerians are scattered beyond the 12 locations.
    Like not even a location in France where I live, but even if there was 1, it probably won’t be in the city I live in, so I would have to spend money to get to the location still.

    Now, lets take the nearest location/s to France as a case in point: London or Leicester.
    Being a student resident in France, I would have to cough out around 500 euros to get to either locations. Yes…500 euros, if I already have a UK visa. 500 euros: about 200euros for tickets + about 200 euros for hotel ( am guessing I would at least stay a night or 2 if I can’t manage to get it done the first day) + 150 euros for food, oyster card, misc ..

    ….and then again, i would still have to pay 30 pounds to get this BVN done!….600 euros counting

    If I do not have the UK visa, I would still have to expend more, and for goodness sake, what reason will i give to the UK embassy as my reason for going to visit the UK…..SO ALL THESE TROUBLE FOR A RIDICULOUS NUMBER WHOSE LIFESPAN IS ALMOST PREDICTABLY SHORT

    +++++++++++++++++++++++++
    Now as I was discussing with this my Nigerian friend here, we thought of many reasons why these old people really need to retire and let young people who have foresight and stable reasoning capabilities to take tangible positions of decision making…we are not kids anymore.

    What I for one think could be done is to allow Nigerians in the diaspora connect with each of their banks ( or account officers) in Nigeria and show some form of documentations that highlights that they live abroad, like Utility bills and all what not. Then, these accounts that belong to such people can be marked for later registration ( like a 2 year span, for when they are able to visit Nigeria) or probably have another method of registration without having to travel to a neighboring country just to do this when it is not even possible or convenient.. In steps

    1. Create an online platform with some validating facilities where Nigerians abroad can register on (I am certain this is possible, because from experience french people are able to vote and partake in elections online from anywhere in the world at their homes without flying back to France)
    2. After registrations, Nigerians abroad can attach utility bills etc to show their true identity ( I have updated my accounts from abroad easily by filling forms and signed letters, so am sure the banks are capable)
    3. am not a tech IT person, so i might not be using the right words but I believe there are countless ways to get this entire thumb printing, eyeball registering, photo taking things done virtually.

    If Nigeria can’t go virtual with this at the moment, we are ready to manage manual format, but dont order us to travel miles, risk our lives, money and time just to get the BVN number, Please be creative and make sensible measures to ease doing this for everyone. Because someone lives abroad does not mean they have a money tree in their garden. IT IS JUST NOT OK TO GIVE A DEADLINE, when your VALUE PROPOSITION IS WEAK!

    THERE IS NO NEED FOR UNNECESSARY BUREAUCRACY! SO PLS NO NEED TO ALSO TRY TO MAKE LIFES OF NIGERIANS ABROAD DIFFICULT …

    • Ephi

      October 9, 2015 at 12:14 pm

      I really love your ideas Ms B. Very sound.
      Unfortunately it is the wrong people we have in key positions in naija, na real wa.

  3. Ada

    October 9, 2015 at 11:29 am

    Wetin una dey talk still dey technical sef, I did my own BVN and waited for the promised text message with my number to no avail. I walked into GTBank and asked them and they wrote my number on a torn out piece of paper for me. When I asked why they didn’t send the kain message they said they would send at least to make the process more authentic, they said, “The message should be sent by CBN not by us”. If CBN no fit send ordinary SMS to people wey don do BVN, na to provide location in France dem fit do?

  4. Ides of March

    October 9, 2015 at 4:46 pm

    Nigerian authorities and their freaking high-jump commandments!!! They can keep the money and the account sef, i’m not doing!!

    • FasholasLover

      October 9, 2015 at 11:36 pm

      I wish l could like ur comment more than once. You made my boring Friday evening. I read ur comment and started laughing.

  5. Olayinka UK

    October 11, 2015 at 12:48 am

    Hi
    i was able to get my done within the time schedule.. I think the CBN should extend the date date for those in the diaspora. Even the exercise at the OIS Services was not clearer enough eager to collect the £30. Then you wait they will send the number by text then you ring you bank back home to give them the same no you have received by text. if you are travelling home between now and next year i will suggest do not worry yourself once you are ready to pay the eguje it will be sorted. Most of the people back home do not have time for BVN.. Also try and email your customer service back home they will advise you the next step to take.
    Goodluck

    Olayinka

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