CBN Sets 18 as Minimum Age for BVN Registration
The Central Bank of Nigeria (CBN) has set 18 years as the minimum age for individuals seeking to register for the Bank Verification Number (BVN) as part of efforts to strengthen identity verification within the banking system.
The apex bank explained that the directive forms part of updated guidelines aimed at improving the integrity and security of Nigeria’s financial sector. Under the new rule, BVN enrolment will now be limited to persons who are 18 years and above, ensuring that only individuals legally eligible to operate bank accounts are captured in the biometric database used by financial institutions.
The move is also expected to enhance the effectiveness of the “Know Your Customer” (KYC) framework adopted by banks and other financial institutions across the country. By tightening the requirements for BVN registration, the CBN aims to reduce cases of fraud and strengthen the reliability of customer identification in the Nigerian banking industry.
