If you have a bank account in Nigeria, you may have heard that you need to link your National Identification Number (NIN) with your account. This is a new requirement from the Central Bank of Nigeria (CBN) that aims to improve security and prevent fraud.
But what is a NIN and how do you get one? And what is a Virtual NIN and why do you need it? In this blog post, we will answer these questions and show you how to generate a Virtual NIN using your phone or the NIMC MWS Mobile ID App.
What is a NIN?
A NIN is a unique 11-digit number that identifies you as a Nigerian citizen. It is issued by the National Identity Management Commission (NIMC) and is linked to your biometric data, such as your fingerprints and facial image. You can use your NIN to access various government services, such as health care, education, pension, and voting.
What is a Virtual NIN?
A Virtual NIN is a coded version of your actual NIN that protects your privacy when you need to verify your identity with third parties, such as banks. It is a temporary code that expires 72 hours after you generate it. You can use your Virtual NIN to link your bank account with your NIN without exposing your personal information.
How to Generate a Virtual NIN?
There are two ways to generate a Virtual NIN: via USSD or using the NIMC Mobile ID App. Here are the steps for each method:
1. Via USSD:
- Dial *346*3*Your NIN AgentCode# on your phone.
- You will receive an SMS with your Virtual NIN.
2. Using the NIMC Mobile ID App:
- Make sure your app is updated to the latest version.
- Enter your PIN and select “GET VIRTUAL NIN” on the home screen.
- You will see your Virtual NIN on the app.
Why Do You Need to Link Your Bank Account with Your NIN?
The CBN has made it mandatory for all bank customers to link their bank accounts with their BVN or NIN by April 2024. This is to ensure that all bank accounts are verified and traceable, and to prevent money laundering, terrorism financing, and other criminal activities.
There are different tiers of bank accounts in Nigeria, depending on the level of verification. Tier 1 accounts have the least requirements and
can be opened with just a phone number. Tier 2 and Tier 3 accounts require more verification and documentation, such as BVN and NIN.
If you have a Tier 1 account, you can link it with either your BVN or your NIN. If you have a Tier 2 or Tier 3 account, you need to link it with both your BVN and your NIN. You can use your Virtual NIN to link your account without revealing your actual NIN.
How to Revalidate Your Bank Account Electronically?
After linking your bank account with your BVN or NIN, you also need to revalidate it electronically. This is to confirm that your account details are correct and up to date. If you fail to do so, you may face restrictions on your transactions starting from March 1, 2024.
To revalidate your bank account electronically, you need to visit the CBN website or use the CBN e-Revalidation App. You will need to enter your BVN or NIN, your bank name, and your account number. You will also need to upload a scanned copy of your ID card or passport. After submitting the form, you will receive a confirmation message from the CBN.
How to Resolve Any Confusion About Virtual NIN?
Some bank customers may be confused about the difference between BVN, NIN, and Virtual NIN. They may also wonder why they need to go
through these processes of linking and revalidating their accounts.
We hope this blog post has helped you understand the purpose and benefits of these measures. If you have any questions or issues, you can contact the CBN or the NIMC for assistance.