engrhorla:

Lol. Funny analysis.
But I think change is d only thing d@ is permanent! Or what do u think, nne?

saintfizzo:
For one who uses more than one bank... do I have to get BVN for each of my Bank accounts?

USAutoBuy:


But in Nigeria, if you implement something like social security number, it MIGHT be riddled with fraud, but you only have one fingerprint. And for your info, several years ago, to combat fraud in the US, if you want to cash a check and you don't have an account with that bank, they will ask you to fingerprint on the check. Just an index finger.

By that if there is any issue, they turn it over to the police. Granted there is a database in the states. Fraud dropped almost 90%. Nigeria lacks any database hence the banks are beginning this.

For your info, there are some companies that requires the workers to clock in with fingerprint. Reduces the issue of someone clocking in for another worker. The fingerprint database is kept with the company in those cases

Regards

NobleG1:

Well, I understand your point, but cashing a check is a different ball game. They don't ask for your fingerprint to operate a bank account in U.S.
I believe we can do better but the endemic corruption in Nigeria is the main problem.

USAutoBuy:


Yes they don't ask for your fingerprint cos there is the fairly trustworthy system of the ID card / DL and social security database that can be trusted. Banks can just revert to it if need be.

But in Nigeria, there is no database, hence the banks has to create it. You are over thinking this privacy/freedom stuff you are used to in the states too much. Banks has to do the best to protect themselves.

When the cases of fraudulent Western Union receivers was rampant in Nigeria, the came out with rules that you have to have an account with the bank before you can cash the western union. That slowed things down. They did not rely on the receiver to just show up with a drivers license which can be fake. They created a new way to protect themselves.

Support the banks, they are moving in the right direction

njideoby:

I hope the change you're talking about being permanent isn't the same CHANGE being chanted here in Nigeria every day, because I doubt if that one here will be permanent.

freshcvv:


Doesn't make sense to me at all..

Anointed08:
.


It took me two weeks to get my own BVN from First Bank. But if it varies from customer to customer, that is not my fault o.

DaBullIT:


You have made sense but I still don't agree with you, what you are saying in essence is that bank PHB, Skye, Gtb, Fbn, diamond, unity wema. E. T. C will have a common data pool which they would compare to verify? Even that's more dangerous for customers and banks themselves, Besides the real fraudsters engage cmd's and bank managers to clear out funds from illegal sources, I heard of a case where manager used a live account to clear out $800k , how would bvn prevent that?

Furthermore almost all the banks are asking you to create account online, although the accounts will be limited to certain amount per transaction it doesn't stop fraud

Finally Nigerian banks are skipping important steps they want to move directly to perfect banking, for this to happen we need population management database, Citizens identification number which would be issued at birth to babies and updates frequently like the west's Social Security number even that does not work effectively. Man makes a rule, Man breaks the rule, I agree with you partially but the Nigerian approach can not work


Period

USAutoBuy:


Not exactly. The data collected is different for different purposes. Not everyone that register for NIN has bank account and vice versa. People living overseas will not have NIN but might have bank account. So the NIN database is useless.

Second, you have to worry about pairing the NIN database with account numbers which might create errors. Its better, faster and easier for the bank to just record your data against your fingerprints one time.

Lastly, is the issue of ownership. CBN DOES NOT OWN the NIN database. They cannot just have access to it even if they want to. Its better for banks to just make their own and use it as they see fit cos all the info they need will be there when setting up

NobleG1:


I don't disagree with you on why the banks are doing it. Banks should have forced the government to create whatever databases required, where financial institutes can refer to in case of verification.

There are things that should be government's responsibility. I understand why banks are this on their own but it doesn't make it right. What stops bank from also demanding blood test before making any bank transaction? Nothing! But in a country where corruption is a rich culture and the govt. is very incompetent, one won't blame the banks.

If this was 100% a good idea, nobody would be required to travel home just to create a bank account or make it operational. They didn't have Nigerians abroad in mind.

amywonda:
My dear the agency is there already, go and get registered, and get your NIN, u can't get a visa to travel now without your nin, I was applying for a visa last week and they asked for my nin, all government jobs now ask for your nin, leave the back to meddle in matters that are not theirs to meddle in, in fact the Bvn should be stated by the government as they have no constitutional right to manage the database, I might just Institute a law suit against the banks

leo1234:
Thanks for the information.
I wasted my time doing it in two different banks(gtb and zenith bank).

radicalove:

Have you been able to resolve your BVN issues now?

SirChotas:
This is the point of the entire post:


The major objectives of the initiative are to protect bank customers, reduce fraud and strengthen the Nigerian banking system.Biometric enrolment is helpful to people who cannot read and write. Their finger prints and pictures would serve the same purpose as signatures. Multiple account holders would be covered with a single registration in any of the banks where they have accounts. BVN will help the banking system reduce situations where loan defaulters, for instance, move from one bank to the other and the banks extend new credits to them, without knowing their history. Banks would be able to track transactions across all banks in Nigeria with more ease.

USAutoBuy:


Yes they don't ask for your fingerprint cos there is the fairly trustworthy system of the ID card / DL and social security database that can be trusted. Banks can just revert to it if need be.

But in Nigeria, there is no database, hence the banks has to create it. You are over thinking this privacy/freedom stuff you are used to in the states too much. Banks has to do the best to protect themselves.

When the cases of fraudulent Western Union receivers was rampant in Nigeria, the came out with rules that you have to have an account with the bank before you can cash the western union. That slowed things down. They did not rely on the receiver to just show up with a drivers license which can be fake. They created a new way to protect themselves.

Support the banks, they are moving in the right direction