Having your BVN flagged in Nigeria is not an issue you should joke with. It reduces your opportunity to gain financial assistance and benefits when the need arises.
So do you want to know what BVN is, what it uses, and how you can remove your BVN from the credit Bureau blacklist in Nigeria, this should be your end point as you will get tips on how to remove your number from the blacklisted listing.
What is BVN?
BVN (acronym for Bank Verification Number) is a number that is given to a customer during account opening as a means of verification and monitoring of the financial transaction performed on your accounts.
Every customer has only one BVN number. Because of the use of biometrics, you can’t have more than one, and it’s linked to calling your bank.
Furthermore, it is a special eleven digits provided by the bank as an ID which the Central Bank of Nigeria CBN, uses to track your transactions. You must take care of your BVN, it can be easily used by scammers to blackmail you or get you into an issue you never think of getting yourself into.
What does it mean to Blacklist a BVN?
When your BVN is Blacklisted, you will lose access completely to financial opportunities such as a collection of loans, grants, and other access to funds either to upgrade your business or to solve your immediate problems.
Interestingly, when you apply for a loan from any financial institution, they will request your BVN, and you will be declined immediately after they notice your BVN is been blacklisted on Nigerian Credit Bureau.
What can Cause a BVN to be Blacklisted?
There are several reasons why your BVN could be blacklisted in Nigeria. If the transactions you perform using your BVN become suspicious, you will be monitored, and upon confirmation, your BVN get Blacklisted.
Interestingly, if you collect loans from microfinance banks, commercial banks, ks, or loan-providing apps; failure to pay back on the due date would lead to a series of calls from them. If they can’t still get to you through calls, they will submit your BVN to the Credit Bureau.
Once your number is blacklisted, you will lose access to applying for loans, grants or other financial benefit from any account linked to your BVN.
How to Know if your BVN is Blacklisted in Nigeria?
If you suspect or wish to know whether your BVN is blacklisted having known the reasons that leads to the Blacklisting, this was curated with you in mind. It’s simple to do that.
You can visit the official webpage of the Nigeria’s central bank to check if you are blacklisted or not. You can navigate to see the list of blacklisted BVNs.
Also, if you can’t do that; you can easily go to your bank and tell them to assist you in checking if you are blacklisted or not. Interestingly, you can do that if you don’t have access to the internet using your small phone (probably not only Android can do so) through USSD.
How to Remove your BVN from the Blacklist
Follow these tips below to get your BVN removed from the Nigerian Credit Bureau.
Visit the NIBSS for Guidance
Visit the NIBSS (an acronym for Nigerian Inter-Bank settlement system) to get assistance and how your BVN could be removed from the blacklisted zone.
Visit the Bank you have an Account With
You can also visit your bank to request assistance on how you can exit the blacklisted zone. This is even easier if you have a good record with the bank in question.
Visit NIMC for a White List Status
Go to NIMC (an acronym for National Identity Management Commission) for a white list status; with this, your BVN could be removed.
Pay your Debts
The best way to avoid your BVN from being blacklisted is the on-time payment of a loan. If you do pay your loan before or on the due date, you will never fall victim to this.
Visit EFCC for a Clearance Letter
Visit the office of the EFCC (an acronym for Economic and Financial Crime Commission) for a debt clearance report.
If you follow these steps, then I assure you your BVN would exit the blacklisted zone.
Can I Open Account With Blacklisted BVN?
Yes you can open an account with a blacklisted BVN but the issue here is; once you deposit or receive any funds to such an account, they will keep deducting till they collect the amount you borrowed including the interest involved.
How do I Remove a Bank Blacklist?
To remove a bank blacklist, you should contact your bank for help on how to remove such blacklist. It’s simple to do so.
How Long does a Blacklisting Last?
For a critical case, it might take up to seven years if any complaint is not made at all. But if you want to get rid of such blacklisting on your BVN, use the guide at the top of that. It takes an average of 20 days.
How do I contact the Credit Bureau in Nigeria?
You can contact the Nigerian Credit Bureau through their website or via their mail and mobile number.
How do I Check my Credit Report with BVN?
Visit their website and navigate to get a credit score, from there, you will know your next move.
In the end, you now know how to remove your BVN from the Nigerian Credit Bureau. Keeping a good record with them is important. It’s not something you should joke with.