Hello and welcome back to the blog, today we are going to learn How To Know If Your Bvn Is Blacklisted In Nigeria.
BVN means Bank Verification Number, a unique number generated by the Central Bank of Nigeria, also known as CBN. It would help if you had your BVN to open a bank account currently in Nigeria. Likewise, it is connected to all your bank accounts in case you have multiple accounts with different commercial banks in Nigeria.
Your BVN can carry out several operations related to your bank account and other financial aspects in Nigeria.
The Nigerian government created BVN to combat fraud and money laundering in Nigeria. So each bank account holder in Nigeria has one BVN.
If your BVN is blocked, your bank account will be flagged as associated with criminal activity or other related offences. In most cases, it could be fraud, money laundering, or terrorist financing.
What Is Blacklisting?
Suppose you are one of those who does not know what it means when your BVN is blacklisted. As a result, your bank account is frozen immediately, your BVN is blacklisted, and you won’t be able to have access to your funds. This usually occurs for different reasons. Over the years, the most popular one is when fraud or when you fail to repay a loan.
Now, you know what the BVN blacklist is all about. You may ask how to find out if your BVN has been blacklisted.
One of the fastest ways is to check the BVN database, which lists all the BVNs that the Central Bank of Nigeria has blacklisted.
You can access the list of blacklisted BVNs on the National Identity Management Commission website.
If you find that your BVN is on the list, then you need to begin removing it.
There are numerous methods of removing it. However, you need to know the major reasons why it was blacklisted in the first place before you begin the process of removing it.
Why BVN can be Blacklisted
There are several reasons why your BVN may be blacklisted. For example, if you’ve been reported for fraudulent activity to your commercial Bank or Central Bank of Nigeria or have an outstanding debt with any financial institution. Likewise, your BVN may be blacklisted if you have been placed on a watch list by the Central Bank of Nigeria.
Other popular reasons for your BVN could be a blacklisted history of money laundering, being a politically exposed person, or being involved in terrorist financing.
Opening a bank account may be difficult or impossible if your BVN is blacklisted. Also, you may need help to get a loan or withdraw from the bank accounts linked to the BVN.
If there are several restrictions on your BVN or bank accounts, you need to contact your commercial Bank or the Central Bank of Nigeria to find out.
How To Know If Your Bvn Is Blacklisted In Nigeria
If you think your BVN has been blacklisted, then you need to follow the instructions below to check if it has been blacklisted and follow the right process to remove it as soon as possible so that you can carry out transactions with your BVN or bank accounts.
- You need to go to the Central Bank of Nigeria website and check the list of blacklisted individuals.
- Likewise, you can call your bank and ask them to do a BVN check for you. This will show whether your name is on the blacklist or not.
- Consult your commercial bank and ask them to do a BVN check for you.
- Suppose you find your name on the blacklist. In that case, you need to consult your bank, so they can help you with the available alternative of withdrawing your money from your bank account so that you can use your bank account for the main time before CBN removes the restriction.
How Can I Get My BVN Removed From the Blacklist?
Now that you have confirmed that your BVN has been blacklisted, what next is how you can remove it from the blacklist list and use your bank account after removing all the temporary or permanent restrictions.
These are the seven methods of removing your BVN from the blacklist.
- You must consult the Nigeria Inter-Bank Settlement System (NIBSS) for help.
- Then, contact your commercial bank and ask them to help you remove your BVN from the blacklist.
- Likewise, you can use National Identity Management Commission (NIMC) and request a white list status.
- You can get a clearance letter from the Economic and Financial Crimes Commission (EFCC) if necessary.
- You need to pay all your outstanding debts and bills.
- Get a letter of removal from your bank(s).
- You may also apply for the Presidential Committee on Verification and Clearing of Defaulters (PCVDC).
How Can I Prevent My BVN From Being Blacklisted?
In case you don’t want your BVN to be blacklisted. Then it would help if you did something. Likewise, you need to avoid some operations so that you will be able to prevent your BVN from being blacklisted by CBN.
- Always report suspicious activities in your bank account if you see one immediately
- Always avoid sharing your BVN with anyone, even not with your family or friend.
- Don’t submit your BVN for online payments or shopping.
- Keep your BVN information confidential.
- Always enter your BVN correctly when making transactions.
- Please don’t give your BVN or other related information to anyone that calls you asking for it. They are scammers.
- Protect your phone with a password to help prevent hackers from stealing your information.
What Are the Consequences of Having a Blacklisted BVN?
If your BVN is blacklisted, these are some of the consequences you’ll face:
- You may not be able to access your bank account or any other financial institution that needs your BVN for the identification or another related purpose.
- You won’t be able to get a loan or apply.
- You may need help getting a job because many employers now require a BVN check.
- Your name or BVN will be on the list of blacklisted individuals, making it difficult for you to conduct any business in the country.
How Do I Check if My BVN Is Blacklisted?
If you want to know if your BVN is blacklisted, then you need to follow these simple steps:
- You must check the Central Bank of Nigeria website and locate the “Check Your BVN Status” link.
- Now you need to enter your BVN into the available box and click on the “Check” button.
- Now, if your BVN is blacklisted, you’ll see a message saying, “Your BVN is blacklisted. Please visit any bank for further information.“