How to Know If Your BVN Is Blacklisted in Nigeria
Bank Verification Number, (BVN) is a special identifier, issued by the Central Bank of Nigeria (CBN), to all bank users in the country, to collect and keep records of your personal biometric details and financial records and in order to decrease the rate of fraudulent activities in the banking industry. Your BVN which is an eleven-digit number is meant to be confidential because it is one of the most critical details required when handling your financial affairs.
However, there are cases where your BVN may be blacklisted, which is mostly due to involvement in a fraudulent or suspicious activity. A blacklisted BVN can cause the inability to get loans, get a job, or engage in financial transactions.
It is very important to know the potential consequences of having a blacklisted BVN. Come with me, as I take you through a comprehensive guide on how to check if your BVN is blacklisted in Nigeria. In addition, I’ll show you all the reasons why a BVN can be blacklisted, the consequences of having a blacklisted BVN, and how to prevent BVN from being blacklisted.
What Is BVN?
(BVN) simply means Bank Verification Number. The BVN is a unique 11-digit number that is assigned to every bank account owner for virtual identification to help protect your financial transactions. It is a modern security measure, set in line with the Central Bank of Nigeria to reduce illegal activities in the banking system. Every individual with a bank account is provided with only one BVN irrespective of the number of bank accounts you have.
What is blacklisting?
Blacklisting is the process of denying you a particular service, due to security concerns or violation of terms of service. So, if you are blacklisted it means you have violated a term of service or engaged in a criminal act.
What Does It Mean to Blacklist BVN?
If your BVN is blacklisted, it means your account has been banned for irregularities, or fraudulent activities, which lead to a restriction in your financial transactions and withdrawals. The Nigerian regulatory bodies such as the Central Bank of Nigeria (CBN), due to fraud or non-compliance with banking policies, may block your account. Once your BVN is blacklisted you no longer have control over finances.
Keep in mind that when your BVN is blacklisted you will not be able to apply for loans, apply for a travel visa, access your finances, and you can be denied access to a job opportunity. Plus, you will be restricted from carrying out any financial transactions due to the ban on your BVN.
How to Know If My BVN Is Blacklisted?
Getting to know if your Bank Verification Number (BVN) is blacklisted is very important because, if blacklisted it affects your ability to carry out certain banking services or carry out any financial activity. To be sure of your Bank Verification Number (BVN) status, you have to constantly check the BVNs’ blacklist status, you can ensure the safety of your finances and that your account is in good standing with Nigerian banks.
If you are not certain about the status of your Bank Verification Number (BVN), here is a step-by-step guide to follow to know.
Note that you need your 11-digit Bank Verification Number (BVN), a valid mobile number, or an internet-enabled device to check the status of your BVN. Follow any of the methods below to get started:
- Contact your bank directly, through the customer service department via phone, email, or visit a branch in person.
- Check online using the BVN portal platform by the Central Bank of Nigeria (CBN).
- Check your BVN on your mobile by dialing the general code *565*0#.
What Can Cause BVN to Be Blacklisted?
Your Bank Verification Number (BVN) can be blacklisted, due to several reasons. And it is important to know the cause of your BVN being blacklisted. Getting to understand the reason why BVN Is blacklisted will enable you to prevent your BVN from being blacklisted.
- One of the main reasons for a BVN being blacklisted is the failure of the owner to meet with repayment of loans. If you borrow money from the bank or any financial institution and fail to pay back when due, your BVN can be blacklisted.
- If you also stand as a guarantor to someone who has defaulted on a loan, it can also lead to your BVN being blacklisted.
- If found or suspected to carry out any fraudulent activities can result in your BVN being blacklisted.
- If you also refuse to comply with regulatory requirements set by the Central Bank of Nigeria (CBN), or other regulatory bodies can lead to your BVN being blacklisted.
- If your account is used for an illegal activity your BVN will be blacklisted.
- issuing a flop cheque for an amount higher than your actual bank cash balance.
If guilty of any of the causes listed above your BVN will be blacklisted. Make sure to report to the necessary authorities immediately.
What to Do If BVN Is Blacklisted
If you find out your BVN is blacklisted do not panic, follow the following steps:
- Immediately contact your bank or financial institution’s customer care personnel for help to resolve the issue about the BVN being blacklisted.
- You can also seek advice from a legal practitioner if your BVN is wrongly blacklisted.
- You can also visit the National Identity Management Commission (NIMC) and request a white list status.
- You can also get a clearance letter from the Economic and Financial Crimes Commission (EFCC).
How to Verify BVN Status
To verify your BVN simply dial the short code *565*1#, enter your BVN, and send. The name issued to the BVN will be sent back via the USSD session.
Or
Visit the online platforms available for BVN verification, such as the Nigeria Inter-Bank Settlement System (NIBSS) BVN validation portal. These platforms enable you to check your BVN details, update your information, and provide options to print your BVN information.
How to Check Bank Verification Number (BVN)
To check your Bank Verification Number (BVN) choose any of the methods:
- Simply dial the short code *565*0# using the phone number you used to open your BVN and follow the prompts displayed on your mobile device. You will be charged a service fee of N20.
- You can check your BVN using the Nigeria Inter-Bank Settlement System (NIBSS) website.
- Visit the NIBSS website on your mobile device or computer. Input your name and date of birth, Type in the phone number linked to your BVN, and Click submit. Choose a payment option and pay the required verification fee of N20. Once payment is received your BVN will display on your screen.
- You can visit the National Identity Management Commission Office (NIMC) and ask for assistance regarding your BVN. Provide your ID from your National Identification Number, you will be assisted in retrieving your BVN.
- You can also contact the BVN helpdesk to retrieve your BVN through their toll-free number – 07002255226 or email – bvn@nibss-plc.com.ng. Make sure you provide the correct details requested. Once your details are verified you will receive your BVN details.
What Are the Consequences of Having A Blacklisted BVN?
There are a lot of consequences you can face when your BVN is blacklisted. A blacklisted BVN can lead to serious repercussions ranging from:
- Inability to have a bank account: one of the major conditions or requirements is your BVN without a functioning BVN you can’t open an account.
- With a blacklisted BVN your bank account is blocked and you won’t be able to open another.
- Inability to apply and rejection of loan application: during your loan application, a background check will be done on your BVN if blacklisted your loan will be rejected by any lending platform.
- Rejection of job application: once your BVN is blacklisted and proved by the CBN that you have broken the regulation set by the CBN and other regulatory bodies, you will be sanctioned and convicted causing your job applications to be rejected by the organization after a background check on you.
- Rejection of your visa application: a background check will be carried out on you in the embassy of the country you are going to and you can only issue the visa to you if you are financially stable.
How Can I Prevent My BVN From Being Blacklisted?
The secret to preventing your BVN from being blacklisted is to be very careful and follow the regulation of the financial institution in Nigeria.
- Ensure that your devices are well secured.
- Always check your account and report any fraudulent activity
- Do not share your BVN with anyone.
- Do not send dud cheques.
- Always enter the right BVN when needed.
- Endeavor to pay up your loans on time.
- Be sure who you stand for as a guarantor.
Read also: How to Apply for Moniepoint Loan
FAQS About How to Know If Your BVN Is Blacklisted in Nigeria
What Is the Mobile Code to Verify BVN Status?
Dial *565*1# enter your BVN and send.
How Can I Check My BVN Details Online?
Simply go to the NIBSS website on your phone or computer, provide your name and other relevant information, enter your phone number, and submit. Note a charge of 20 naira will be demanded.
Can I Check If I Am Blacklisted?
Yes, you can Dial *565*1# or check online via the NIBSS website.
How can I check my BVN status?
Simply dial 565*1# or better still visit your Bank.
Can A Loan App Lock Your BVN?
No, only the Central Bank of Nigeria (CBN) and other regulatory bodies.
What Does It Mean for My BVN To Be Blacklisted?
It simply means your account has been restricted, that is you no longer have control of your finances in your bank account, you neither make any transaction nor make any withdrawal or payment from your bank account. Neither can you take loans or engage in any form of digital transactions.
How Can I Check Online If My BVN Is Blacklisted in Nigeria?
Simply visit the NIBSS website, you can also check on the BVN portal platform or visit the Central Bank of Nigeria (CBN) website and request the list of blacklisted BVN.
How Can I Remove My BVN From Blacklist?
To remove your BVN from the blacklist visit your bank and lay a complaint, then follow instructions and provide every important information required.
Can Loan App Blacklist My BVN?
No, no loan app can blacklist a BVN, only the Central Bank of Nigeria (CBN) and other regulatory bodies have the responsibility to do so.
Can I Block My BVN And Get A New One?
No, you can’t block your BVN and get another one. Only the Central Bank of Nigeria (CBN) and other regulatory bodies have the responsibility to give and block BVN. One issued a BVN you can’t get another one. If blocked you can request for it to be unblocked.
Can I Withdraw Money If My BVN Is Blacklisted?
No, you can’t once your BVN is blacklisted you will be unable to carry out any transaction from your account including the withdrawal of funds.
What Do I Do If Someone Has My BVN?
Visit your nearest bank branch close to you and file a report, then follow the instructions given.