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BVN: Everything You Need to Know About BVN, How to Retrieve it and Link it to Your Gtbank Account.

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To curb or reduce and illegal banking transaction in Nigerian banking system, Central Bank of Nigeria (CBN) in 2015 directed all account holders home and abroad to enroll for a bank verification number also known as BVN. BVN is an 11 digit identification number that gives every Nigerian with a bank account a uique identity that can be verified across the banking industry in Nigeria. This means even if you have accounts with all banks in Nigeria, you only need one BVN and you can link it to all other accounts.

 

This article will explain all you need to know about BVN and biometric, different ways to link BVN to your Gtbank account and how to retrieve your unique number if forgotten by USSD or short code using phone and number (MTN, ETISALAT AND AIRTEL) associated with your bank account.

 

Bank verification number is a centralized biometric identification system launched by CBN in collaboration with all Nigerian banks to curb theft. Before we continue to top things you need to know about BVN, I will like to digress a little and explain the working principle of biometric.

 

Working Principle of Biometric

 

Biometric devices uses a reader or scanning device to scanned human biological data/characteristics like fingerprint, voice, facial features etc.., a software that coverts the scanned information into digital form & compares match points and a database that stores the biometric data for comparison. This data are usually encrypted to prevent identity theft.

 

To convert the biometric data, the software identify specific points of data as match points. The match points in the database are processed using an algorithm that translates that information into a numeric value. The data set value is then compare with the Biometric the end user has entered into the scanner and authentication is either approved/granted or denied.

 

The working principle of biometric remains the same, no matter what methodology is employed. That is, a record of human’s unique biological data that is captured and kept in database and when verification is required, a new record is captured and compared with the previous one in the database. If it matches, it confirms the identity. It is a more secure means of identification or authorization to password.

Top things You Should Know About Bank Verification Number.

1. Your BVN is accepted as a means of identification across all Nigerian banks.

2. Registration in one bank covers all accounts you have in all other banks.

3. It takes up to 24 hours after registration to get a BVN. You will receive SMS alert.

4. A BVN identification card with a computer chip bearing your embedded personal information will be available for collection at your designated bank branch.

5. It is free, reduces fraudulent activities and increase the efficiency of banking operations.

6. At point of registration, your fingerprint and facial image will be captured.

7. Your Bank Accounts are protected from unauthorized access.

8. Gives easy access to Banking operations.

9. Your Bank Verification Number remain the same for life.

How To Link Your BVN To Your Gtbank Account.

 

As far as internet banking and integration of top notch state of the art technology into banking system is concerned in Nigeria, Gtbank has always been on the top position. Gtbank has provided series of ways to link Bank Verification Number to your guarantee trust bank account.

1.) Link BVN to GTBank via SMS.

To link your BVN via SMS, just text + BVN number to 08076665555. E.g. BVN to 08076665555 .

2.) GTB BVN Linking Process in ATMs.

· Insert your Gtbank ATM card.

· Then select BVN Link on the transaction menu screen.

· Enter your 11-Digit Bank Verification Number.

· Confirm your BVN details.

· Finally, submit your BVN.

3.) BVN Linking Process via GTBank Internet Banking.

· Log in to your Gtb internet banking dashboard.

· Select BVN Linker from the left-hand panel.

· Click on New Request.

· From the drop down menu, insert your Bank Verification Number was issued.

· Select the Nigerian Bank were BVN was Issued.

· Answer your Secret Question and continue.

4.) BVN Linking Process via the BVN Portal on Gtbank Website.

· Input your GTBank Nuban and click Verify Account Number.

· Select the Nigerian Bank where your Bank Verification Number was issued.

· Input the BVN number obtained from another Nigerian Bank.

· Clink on Submit.

Please visit (www.gtbank.com/bvnlinking) to link your BVN.

5.) BVN Linking Process via 737 Mobile Banking.

To link your BVN via 737, simply dial *737*20*BVN# .

 

How To Retrieve Bank Verification Number on Phone.

 

To check BVN number on phone , simply dial *565*0# on a number associated or linked to your account. This works for all Nigerian mobile networks and banks. Gtbank will charge you N10 naira for this transaction; it might be more or less for other banks.

 

You can also retrieve your bank verification number online via Gtbank internet banking platform. If you have an account Gtbank and have activated it for online banking, you can check your BVN number by just signing in with your PC.

 

That’s all on bank verification number (BVN) in Nigeria banking industry and everything else associated with it

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Controversial Sterling Bank caught in the act! CBN sanctions, parades officials for hoarding new naira notes [VIDEO]

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Officials of the Central Bank of Nigeria (CBN) have discovered N6 million of the new naira notes hoarded in Sterling Bank Plc, Ado Ekiti branch on Bank Road, Ado Ekiti in Ekiti State, having received the funds for over two weeks, THE WITNESS reports.

 

In a trending video on social media, seen by THE WITNESS, a man who identified himself as Oluwole Owoeye, a deputy director of CBN, while monitoring the distribution of the new naira notes in the state, was seen questioning the bank officials as to why they have not uploaded the funds into their Automated Teller Machines, (ATMs), despite having six of the machines in place.

 

The CBN director also announced a fine of N1 million for each day the fund was in the bank’s custody.

 

The CBN official said, “I am currently at Sterling Bank, on Bank Road as part of the new naira notes monitoring compliance with the guidelines by CBN. They have N6 million, which they collected from the bank for almost two weeks, they have not disbursed any. They said they are yet to configure their ATMs, I do not know why that and I have brought attention to the penalty clause of N1 million per day, because they have five ATMs here, they have no reason for keeping this money.

 

“The zonal service manager, Tunde Onipede promised that by 10:00am latest tomorrow (Monday), because I told him by latest 10:00 am I’ll be here and I want to see the machine dispensing this money.

 

“What is the name again? Olumide Owolabi (Service Manager, Ado) & Motunrayo Babayele. My name is Oluwole Owoeye and I am a deputy director of CBN.”

 

WATCH VIDEO HERE:

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FCMB Manager Arrested For Hoarding New Naira Notes

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A manager of the First City Monument Bank (FCMB) branch in Osogbo, Osun State capital, has been arrested for allegedly preventing Automated Teller Machines (ATMs) loaded with cash from dispensing money to customers.

The spokesperson of the Independent Corrupt Practices and other related offenses Commission (ICPC), Azuka Ogugua, in a statement on Friday said the cash bundles were loaded into the ATMs while still wrapped, and as such, could not be dispensed through the machines

“The ICPC Compliance Team in Osogbo has busted an FCMB in Osogbo, Osun State, where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed.

“The Team, therefore, directed that the wrappers be removed, and the cash loaded properly’.

Similarly, seven Point of Sale (POS) operators as well as a security guard were arrested during the ongoing exercise in Osun State for charging exorbitant commissions for cash.

Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

The arrested persons are helping the Commission with information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes.

 

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New naira: ICPC arrests Stanbic IBTC Bank manager over sabotage

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The Independent Corrupt Practices and other related offences Commission (ICPC), has arrested an official of Stanbic IBTC Bank in Abuja for alleged sabotage.

The ICPC spokesperson, Azuka Ogugua, said the development was in continuation of ICPC’s clampdown on elements frustrating efforts in making the redesigned Naira notes available to members of the public.

The bank official, who is the branch service head of Stanbic IBTC Bank, Deidei Branch in Abuja, was taken into custody for her deliberate refusal to upload cash into the branch’s Automated Teller Machines (ATMs) even when the cash was available and people were queuing at the ATM points.

The statement reads: “When the ICPC monitoring team stormed the bank at about 1:30pm on Friday to ensure compliance, and demanded explanation as to why all the ATMs were not dispensing cash, the team was informed by the branch’s head of operations that the bank just got delivery of the cash.

“However, facts available to the ICPC operatives indicated that the branch took delivery of the cash earlier around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash.

“Against this backdrop, the ICPC team compelled the bank to load the ATMs with the redesigned Naira notes and ensured that they were all dispensing before arresting the culprit.

“The ICPC said investigations were still ongoing and the Commission will take appropriate actions as soon they are concluded.

“Similarly, seven Point of Sale (PoS) operators as well as a security guard were arrested during an ongoing exercise in Osun State for charging exorbitant commissions for cash.

“Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

“The arrested persons were helping the anti-graft commission with information to assist investigations and bust other syndicates involved in the hoarding and sales of the redesigned Naira notes,” the anti-graft agency said.

 

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