Banking
All You Need to Know About BVN, How to Retrieve it and Link it to Your GTBank Account
By Modupe Gbadeyanka
To curb or reduce and illegal banking transaction in Nigerian banking system, Central Bank of Nigeria (CBN) in 2015 directed all account holders home and abroad to enrol for a bank verification number also known as BVN.
BVN is an 11 digit identification number that gives every Nigerian with a bank account a unique identity that can be verified across the banking industry in Nigeria. This means even if you have accounts with all banks in Nigeria, you only need one BVN and you can link it to all other accounts.
This article will explain all you need to know about BVN and biometric, different ways to link BVN to your GTBank account and how to retrieve your unique number if forgotten by USSD or short code using phone and number (MTN, ETISALAT AND AIRTEL) associated with your bank account.
Bank verification number is a centralized biometric identification system launched by CBN in collaboration with all Nigerian banks to curb theft. Before we continue to top things you need to know about BVN, I will like to digress a little and explain the working principle of biometric.
Working Principle of Biometric
Biometric devices uses a reader or scanning device to scanned human biological data/characteristics like fingerprint, voice, facial features etc.., a software that coverts the scanned information into digital form & compares match points and a database that stores the biometric data for comparison. This data are usually encrypted to prevent identity theft.
To convert the biometric data, the software identifies specific points of data as match points. The match points in the database are processed using an algorithm that translates that information into a numeric value. The data set value is then compare with the Biometric the end user has entered into the scanner and authentication is either approved/granted or denied.
The working principle of biometric remains the same, no matter what methodology is employed. That is, a record of human’s unique biological data that is captured and kept in database and when verification is required, a new record is captured and compared with the previous one in the database. If it matches, it confirms the identity. It is a more secure means of identification or authorization to password.
Top things You Should Know About Bank Verification Number
- Your BVN is accepted as a means of identification across all Nigerian banks.
- Registration in one bank covers all accounts you have in all other banks.
- It takes up to 24 hours after registration to get a BVN. You will receive SMS alert.
- A BVN identification card with a computer chip bearing your embedded personal information will be available for collection at your designated bank branch.
- It is free, reduces fraudulent activities and increases the efficiency of banking operations.
- At point of registration, your fingerprint and facial image will be captured.
- Your Bank Accounts are protected from unauthorized access.
- Gives easy access to Banking operations.
- Your Bank Verification Number remains the same for life.
How To Link Your BVN To Your GTBank Account
As far as internet banking and integration of top notch state of the art technology into banking system is concerned in Nigeria, Gtbank has always been on the top position. Gtbank has provided series of ways to link Bank Verification Number to your guarantee trust bank account.
1.) Link BVN to GTBank via SMS
To link your BVN via SMS, just text + BVN number to 08076665555. E.g. BVN to 08076665555 .
2.) GTB BVN Linking Process in ATMs
- Insert your Gtbank ATM card.
- Then select BVN Link on the transaction menu screen.
- Enter your 11-Digit Bank Verification Number.
- Confirm your BVN details.
- Finally, submit your BVN.
3.) BVN Linking Process via GTBank Internet Banking
- Log in to your Gtb internet banking dashboard.
- Select BVN Linker from the left-hand panel.
- Click on New Request.
- From the drop down menu, insert your Bank Verification Number was issued.
- Select the Nigerian Bank were BVN was Issued.
- Answer your Secret Question and continue.
4.) BVN Linking Process via the BVN Portal on GTBank Website
- Input your GTBank Nuban and click Verify Account Number.
- Select the Nigerian Bank where your Bank Verification Number was issued.
- Input the BVN number obtained from another Nigerian Bank.
- Clink on Submit.
Please visit (www.gtbank.com/bvnlinking) to link your BVN.
5.) BVN Linking Process via 737 Mobile Banking
To link your BVN via 737, simply dial *737*20*BVN# .
How To Retrieve Bank Verification Number on Phone
To check BVN number on phone, simply dial *565*0# on a number associated or linked to your account. This works for all Nigerian mobile networks and banks. GTBank will charge you N10 naira for this transaction; it might be more or less for other banks.
You can also retrieve your bank verification number online via GTBank internet banking platform. If you have an account GTBank and have activated it for online banking, you can check your BVN number by just signing in with your PC.
That’s all on bank verification number (BVN) in Nigeria banking industry and everything else associated with it.
By Modupe Gbadeyanka
About N3.6 trillion has been repaid to the Central Bank of Nigeria (CBN) by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010.
This information was revealed by the chief executive of AMCON, Mr Gbenga Alade, during a media parley to update the press on the activities of the agency.
Mr Alade said at the moment, the organisation still owes the central bank about N3 trillion for toxic assets of banks in the country.
He praised the organisation for its asset recovery drive, stressing that when compared with others across the world, Nigeria has done well.
“It is important to stress that the corporation has done tremendously well, especially when compared to other notable government-owned Asset Management Corporations around the world.
“Based on the balance at purchase, AMCON outperformed other Asset Management Corporations all over the world by achieving over 87 per cent in recoveries despite the unique challenges associated with debt recovery in Nigeria.
“The Malaysian Danaharta, which is adjudged one of the best performing Asset Management Corporation’s, only achieved 58 per cent. The Chinese Asset Management Corporation, despite its stricter laws, achieved just 33 per cent.
“Only the Korean Asset Management Corporation (KAMCO), South Korea, has achieved more recoveries than AMCON, with about 100 per cent. This was due to their brute force with which they chased the obligors.
“Despite KAMCO’s recovery records, the agency is still operational to date with slight realignments in its mandate.
“Other noted Asset Management Corporations that have transitioned into a perpetual institution of the various governments include, China Asset Management Company, Federal Deposit Insurance Corporation (FDIC) USA, and KFW Germany.
“So, gentlemen, without sounding immodest, AMCON has done well, and we will not relent until all the outstanding debts are fully realized,” Mr Alade stated.
On the financial performance of AMCON, he said last year, the firm posted a revenue of N156.25 billion and operating expenses of N29.04 billion, while for the 2025 fiscal year should be a revenue of N215.15 billion and operating expenses of N29.06 billion.
By Modupe Gbadeyanka
One of the non-interest banks in Nigeria, The Alternative Bank (AltBank), has opened a new branch in Effurun, Delta State.
The new office will serve the Edo-Delta region and provide purposeful banking and real financial empowerment for individuals, entrepreneurs, and businesses, a statement from the firm stated.
The lender disclosed that the Effurun branch is a bold move in its mission to reshape banking in Nigeria.
The launch was graced by key dignitaries, including the Ovie of Uvwie Kingdom, Emmanuel Ekemejewa Sideso Abe I; the Chairman of Uvwie Local Government, Anthony O. Ofoni, represented his vice, Andrew Agagbo; and the Special Adviser to the Governor of Delta State on Community Development, Mr Ernest Airoboyi; amongst others.
The Divisional Head for South at The Alternative Bank, Mr Chukwuemeka Agada, emphasised the institution’s commitment to Warri and its surrounding communities.
“By establishing a presence here, we are initiating a transformation in the way banking serves the people of Delta. Our purpose-driven approach ensures that customers’ financial goals are not just met but exceeded,” he stated.
“This branch represents our pledge to empower Warri’s dynamic businesses and families, providing them with the tools to grow without compromise,” Mr Agada added.
“We understand the heartbeat of this community, and we are excited to integrate our bank into the fabric of this dynamic region,” he stated further.
On his part, the representative of the Ovie, Mr Samuel Eshenake, challenged the bank to facilitate development and employment within the Effurun community.
The Regional Head for Edo/Delta at The Alternative Bank, Mr Akanni Owolabi, embraced this challenge, pledging that the bank will work sustainably to drive local commerce.
“At The Alternative Bank, we are committed to being an active partner in the development of Effurun. We see this branch as a catalyst for creating opportunities, driving employment, and supporting the growth of local businesses.
“Our mission is to empower this community, ensuring that every step forward is one of progress, prosperity, and shared success.”
By Aduragbemi Omiyale
A partnership aimed to enable seamless, real-time and secure transactions for cardholders across Africa and the rest of the world has been entered into by Payattitude and PAPSSCARD, the card scheme initiative of the Pan-African Payment & Settlement System (PAPSS).
The collaboration will allow Payattitude cards issued by banks and other deposit-taking institutions to be co-branded with PAPSSCARD, Discover, Diners and Pulse for acceptance across their networks in Nigeria, Africa and worldwide.
As an initiative of the African Export-Import Bank (Afreximbank) and a key financial infrastructure supporting the African Continental Free Trade Area (AfCFTA), the PAPSSCARD scheme will facilitate instant cross-border payments in local currencies.
“This partnership reflects our commitment to cross-enterprise alliances and enabling inclusive, efficient, and borderless payments across Africa and the world
“With Payattitude, Nigerian cardholders and financial institutions can now enjoy the benefits of a Nigerian card that can be used worldwide,” a director at Payattitude, Dr Agada Apochi, said.
The acting chief executive of PAPSSCARD, Mr John Bosco Sebabi, said the aim is “to connect African payment ecosystems, reduce the cost and inefficiencies of cross-border payments, and strengthen African sovereignty over payments infrastructure.
“Collaborating with Payattitude, a key innovator in Nigeria’s payment space, represents a significant step towards a more unified African payment landscape.”
The chief executive of PAPSS, Mr Mike Ogbalu, said, “By bringing together PAPSSCARD’s robust cross-border payment capabilities with Payattitude’s leadership in the Nigerian digital payments, we are taking tangible steps toward building a single African market where individuals and businesses can transact easily and securely, both within and beyond Africa.”
Payattitude is the first-in-kind Nigerian Payment Scheme to pioneer multibank App and USSD Code *569#.
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