One of the most frequently asked questions related to banking in Nigeria is regarding blocking one’s existing Bank Verification Number (BVN) and opening a new one. While this seems like an easy solution to problems, the reality is quite different. Let’s examine this issue in depth.
What is a BVN?
A Bank Verification Number or BVN is a unique 11-digit identification number issued by the Central Bank of Nigeria to link all bank accounts held by a customer. Here’s a brief overview of how it works:
- BVN enrollment requires capturing biometric details like fingerprints and photographs during registration at a bank branch.
- Personal details like name, date of birth, address, etc. are also collected and verified.
- Once registered, a unique BVN is generated and permanently linked to the individual.
- This number links all existing and new bank accounts opened by the customer across different banks.
- BVN helps banks curb fraud and seamlessly verify customer identities digitally.
So in essence, a BVN acts as a lifelong identifier issued by CBN to uniquely recognize an individual in the banking system.
Can I Block My Existing BVN?
The simple answer is no, you cannot block your existing BVN number for the following key reasons:
- BVN registration is a one-time process permanently tying the identity to biometrics. There is no provision to block it.
- The BVN database is centralized and managed by NIBSS under CBN authority. Individuals have no control over records.
- Even if removed from one bank, the same BVN details will link all previously opened accounts elsewhere.
- At best, banks may blacklist a tagged BVN involved in suspicious activities based on internal risk policies.
- RBI does not support or have any mechanism for customers to directly block their own BVN numbers.
So in essence, once enrolled, your BVN remains active for life and cannot be selectively blocked by an individual from their end.
Can I Then Open a New BVN?
No, opening a fresh new BVN by blocking the existing one is simply not possible due to the following challenges:
- BVN registration requires biometric matching. Earlier biometrics already registered will trigger duplicate identity alerts.
- Attempt of new registration will show BVN already generated for that unique identity during verification from the central CBN database.
- Providing different identity details from earlier may invite legal penalties for fraudulent submissions.
- No authority or process exists to cancel an issued BVN and re-enroll the same identity. It remains permanently active.
So in summary, individuals cannot create an alternate version of their identity on a whim by blocking and opening new BVN due to system-level controls and safety protocols.
Legal Implications of Duplicate BVN Creation
Any attempt to circumvent the existing BVN system protocol and create multiple identities using similar details can invite significant troubles including:
- Fraud Charges: Furnishing incorrect information during enrollment amounts to misrepresentation and fraud.
- Identity Theft Risks: Linking accounts to incorrect BVN may result in accidental access granted to the wrong persons.
- Money Laundering Allegations: Multiple BVNs to the same identity attracts suspicion of illegal fund diversions.
- Bank Blacklisting: Once detected, all accounts under wrongfully acquired BVNs may face permanent restrictions.
- Imprisonment: Severe identity fraud is considered a criminal offense under extant laws punishable by imprisonment.
So in light abovementioned:
- Legal Issues
- System level hurdles
- Potential damage to own finances/reputation
It is simply not advisable to create duplicate BVN identities in any way given the serious implications.
Alternative Solutions to BVN Related Problems
While direct blocking or duplication remains unviable, certain officially authorized remedies exist depending on the nature of the issues:
- Name Correction: Spelling mistakes or marriage name changes are allowed with requisite proof.
- Date of Birth Update: On proof like a birth certificate, this can be aligned for verification purposes.
- Account Closure: Banks permit temporary deactivation or full shutdown of problematic accounts.
- BVN Temporary Deactivation: Authorised in certain cases like reported identity theft, and pending investigations.
- BVN Regeneration: Only when previous registration details have proven compromised through no fault, with CBN approval.
- Address/Contact Update: Simple demography changes are permitted online or via bank branches.
- Complaint Redressals: Issues with specific banks are addressed through internal and regulatory grievance forums.
So in conclusion, direct BVN blocking or multiplying identities is not feasible. Official processes exist to resolve errors and problems within defined norms and laws whilst maintaining the integrity of the core system. Individual cooperation and pursuing legal options remain the advisable approach.