The Federal Government has insisted that the Bank Verification Number (BVN) is mandatory for transactions, including opening a bank account.
Why do we need this information?
When signing up for your Umba account and we ask for you to enter your BVN, we do this to ensure that the personal details you provided match with the details seen on the Bank Verification Number. This makes it relatively easy to confirm and verify your identity.
Is my BVN safe with you?
Of course. We don't store this information or share your details with any third party.
We only ask for your BVN because we are legally required to do so by the Central Bank of Nigeria.