Let’s be honest, Nigerians can be crafty with money, especially when it comes to owing. One day they’re applying for a loan on your app with a Zenith account showing N3,000. Two days later, they’re posting vacation photos on Instagram, sipping cocktails in Lekki, all while another bank account you don’t know about is quietly holding N750,000.
As a lender, that’s the game you’re playing. And if you’re not seeing the full financial picture, you’re basically lending blind. But here’s the good news: Nigeria’s Bank Verification Number (BVN) system was designed for moments like this. With the right tools and proper consent, you can see not just the one account your borrower showed you, but all of them. Every. Single. One.
This article breaks down exactly how to do that legally, efficiently, and with the customer’s consent. If you’re serious about reducing fraud, understanding your borrower, and getting repaid on time, you’ll want to read to the very end.
What is a BVN and why it matters so much to lenders
A Bank Verification Number (BVN) is a biometric identification system designed to improve the security of banking transactions and reduce fraudulent activities. When you enroll for a BVN, your unique biometric data, including ten fingerprints and a facial image, are captured and stored in a central database managed by the Nigeria Interbank Settlement System (NIBSS).
The BVN helps protect customers' accounts from unauthorized access and fraud. It is used across all Nigerian banks and ensures that customers are uniquely identified during transactions, including loan applications and other banking services. It also helps in identifying blacklisted customers, reducing queue times in banking halls, and enhancing operational efficiency.
The BVN isn’t just a regulatory requirement. It’s a strategic tool that connects the dots across Nigeria’s financial system. Since every Nigerian bank account is tied to a unique BVN, you can use it to trace a customer’s entire financial presence. For example, a borrower who claims to be broke on a GTBank account could be hiding N500,000 in a Zenith savings account, something you wouldn’t know unless you looked beyond the surface.
More than that, BVN data can reveal risky financial behaviors. You can spot patterns like multiple active loans, account dormancy, or frequent account openings and closures that a single bank statement or even a credit report might overlook. And perhaps most importantly, by verifying all BVN-linked accounts, you’re reducing your exposure to fraud. Ghost borrowers or chronic defaulters hopping between loan apps under slightly different names will find it much harder to deceive a lender who does their due diligence with BVN validation.
What BVN-based checks can actually reveal
When you verify a BVN through the right channels, you get access to core identity data such as the customer’s full name, date of birth, phone number, email address, and even their biometric photo.
More critically for lenders, you can also retrieve the complete list of bank accounts tied to that BVN, regardless of whether the customer uses a commercial bank, microfinance institution, or fintech app. The data includes each bank's name and the corresponding account number.
However, it’s worth noting that BVN checks won’t show you account balances or transaction histories directly. To get those, you’ll need additional permissions, usually through open banking APIs or direct account linking setups that the customer must approve.
How to retrieve all bank accounts linked to a BVN
There are three legitimate and reliable methods to retrieve BVN-linked bank accounts as a lender in Nigeria. The first method is through the NIBSS BVN Validation Portal. Operated by the Nigeria Inter-Bank Settlement System, this web-based platform allows lenders and other regulated entities to verify a customer’s BVN and pull up all associated accounts.
The process is straightforward: you enter the BVN and the customer’s date of birth, pay a small fee (currently N25), and instantly receive a report listing all accounts connected to that BVN, including account numbers and bank names. This method is fast, reliable, and doesn’t require the customer to self-declare any of their accounts.
For smaller, mobile-first lenders or one-off verifications, NIBSS also provides a USSD alternative. By dialing 5650# on a Nigerian mobile line, entering the BVN, and paying a nominal fee, you can receive a summary of all bank accounts linked to that BVN. This method works well for quick verifications but isn’t scalable if you’re handling hundreds of borrowers daily.
Lastly, and perhaps most efficiently for modern lenders, you can integrate with licensed BVN verification APIs. Providers like Adjutor which offer enterprise APIs that let you embed BVN verification into your loan origination systems. These APIs return all the data you’d get from the portal, identity details and linked accounts, but with added flexibility for automation, analytics, and workflows. If you pair these with open banking permissions, you can go even further to retrieve real-time income data and account transaction histories from all those linked accounts.
All you need to know about Adjutor
Now, knowing BVN is powerful, but accessing it as a lender requires the right tools. That’s where Adjutor comes in.
Adjutor is an API-based verification engine that gives lenders instant access to a customer’s BVN-linked information, including all associated bank accounts. The process is straightforward, secure, and fully compliant. Here’s how Adjutor helps:
Access full BVN details
With just a BVN and the phone number tied to it, Adjutor initiates a consent flow. The customer receives an OTP, confirms it, and you get access to a full profile: name, phone number, date of birth, and other identity markers directly linked to their BVN. This ensures the person you’re onboarding is who they say they are. Each verification costs ₦50.
See every bank account linked to the BVN
Here’s the part you’ll really care about. Adjutor doesn’t just stop at identity, it also returns all the bank accounts connected to a customer’s BVN across Nigerian banks. Same consent process. Same speed. Same ₦50 per check. Now you can spot borrowers trying to hide income or dodge repayments by using alternate accounts.
Match customer selfies with their BVN record
To tighten fraud checks, Adjutor also lets you confirm if a selfie matches the official BVN image. It’s simple, send the image, and Adjutor returns a match result. For ₦30, you can be more confident that the person applying isn’t impersonating someone else.
Lend safely with Adjutor
Lending in Nigeria is not for the faint-hearted. Borrowers hide accounts. Defaulters ghost you. And repeat offenders learn how to game weak systems. But it doesn’t have to be a gamble. From pulling all BVN-linked bank accounts to blocking chronic defaulters with blacklists, lenders today have more tools than ever to protect their money.
Platforms like Adjutor now make it possible to verify identities, uncover hidden accounts, and shut the door on fraudsters, all before a single naira leaves your wallet. If you're building a lending business in Nigeria, the real edge isn't just fast disbursement. It's knowing who you're lending to, what they're hiding, and how to hold them accountable. That’s how sustainable lending wins.
If you’re serious about lending in Nigeria, Adjutor isn’t a nice-to-have, it’s a need-to-integrate. Reach out to us today at support@adjutor.io, and let’s get you started.
