2014-10-21 | BPS/DIR/GEN/CIR/01/015

Clarification Circular on Bank Verification Number (BVN) Enrollment

The Central Bank of Nigeria (CBN) has issued clarifications on the process of enrollment for the Bank Verification Number (BVN) project. Key points include existing customers may not need to resubmit their signature and identification, banks are required to fully integrate their core banking systems by October 31st, all loans must have BVN as a condition precedent from November 3rd, and the CBN will monitor compliance.

Nigeria

Central Bank of Nigeria

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