There are several legit ways to know if your bvn is blacklisted in Nigeria. And that’s exactly what we’ll be discussing here in this article today.
Note: The best way to know if your BVN has been blacklisted in Nigeria is to check your credit report by dialing the USSD code 5658# on your mobile phone to get instant Credit reports from CRC Credit Bureau in Nigeria. Charges may apply.
And besides, there are other important topics you need to get a full understanding about. For example, what happens if your bvn is blacklisted, what to do when your bvn is blacklisted and how you can remove your name from the credit bureau in Nigeria.
To gain a full understanding of all these points, it is advisable to read this article to the end, because we’ll be discussing everything that concerns how to know if your bvn is blacklisted in Nigeria 2022.
There’s no doubt that many people don’t understand why their names are on the credit bureau organization’s blacklist. It’s not a new thing, as I have a friend who was blacklisted in 2019 and had no idea.
Not until he had to check his credit score on Nigeria’s first central credit bureau portal. What made him realize of being blacklisted was when he decided to get a loan from one of the best loan apps in Nigeria and was rejected for a bad loan credit score.
His account was used for illegal activities while he was at the hostel and thereafter his phone got missing. The sum of the 150k loan was borrowed without his consent, so this led to his bvn being blacklisted and being out of funds for early repayment.
So how did he clear his name from the credit bureau blacklisting in Nigeria? Yeah, I’ll be using his illustration to give you the clear guidelines to your question but then, let’s, first of all, see what it meant to be under debt review or the Nigerian black list status.
What is BVN Black List Status in Nigeria?
What does it mean to be blacklisted by the Credit Bureau Association of Nigeria? The main meaning here is that you won’t be able to acquire a loan from any financial services again in Nigeria because you are either owing the bank or a loan provider and your bvn has been restricted from carrying out financial activities.
Don’t know what a bvn means? A BVN is an eleven-digit code that would be generated by a bank upon first account registration. This code is your key or roadmap to all your transactions made with Nigeria’s financial infrastructure
Everyone in Nigeria who is willing to have a bank account must acquire this code because it secures and encrypts every transaction being carried out within your account. You are only eligible to get one bvn because the number is connected to your biometric data i.e your fingerprints.
Why is my bvn blacklisted in Nigeria
Several factors could make your bvn to be blacklisted in the Credit Bureau Association of Nigeria. These factors could range from inability to repay the loan, issuing a bounced check, acting as a guarantor to a loan defaulter, being deemed part of a fraudulent scheme, and many more.
Below are four reasons why your bvn has been blacklisted in Nigeria.
1. Issuing a bounced check
Your bank verification financial code can be blacklisted because you’ve issued a cheque to someone when you knew that your balance isn’t up to that amount that was issued.
2. Inability to repay Loans
Your inability to repay your loan when due might lead to your bvn being flagged and you would be placed under debt review for a specific period. During this period, you won’t be able to get or secure loans and all your financial activities would be monitored.
In countries like South Africa, the NCR would be responsible for monitoring all your activities. You’ll be asked to get a debt review counsellor who would tutor you on how you can repay all your loans.
This process would disrupt your lenders from taking legal action against you if you’re unable to make payments on time.
3. Associated with fraudulent transactions
The EFCC can track any suspicious financial activities going across your account and if you’re found to be fraudulent, your bank verification number would be blacklisted if not blocked. Although there hasn’t been much clarity to this claim, you can make further research about that.
4. Guarantor to a loan defaulter
If you’re a guarantor to a loan defaulter you’ll be contacted and if there’s no appreciated turnout, your bvn might also get blacklisted because you’ll be charged also as a loan defaulter.
In this case, you’ll also be unable to secure a loan until the credit has been settled. The best practice is never to vouch for anyone, who you don’t trust or who can’t repay a loan. This doesn’t apply to next of kin.
What happens If your Bvn Is Blacklisted
What happens when your bvn is blacklisted is that you won’t be able to get loans from the bank or any loan apps in Nigeria. Your credit score would be low and you may also encounter difficulties in carrying out other financial operations that may require verification of your BVN.
Can I go to jail for not paying online loans in Nigeria? No, you’ll never be charged to court for not paying online loans in Nigeria. Although defaulting on loans is illegal, it’s not regarded as a criminal offence. So you’re likely not to go to court. More emphasis would be made towards the end of this article.
Although, Legal civil actions would be taken upon you, which would result in your paying your debt according to your capacity to repay on time. Your salary might be divided into several divisions which would enable you to pay your penalty and interest fees.
The best option is to quickly repay your debt and get freed. Although my claims had not been fully recognized, this is just my research on what might happen if your bvn is blacklisted.
So before I show you how to know if your bvn is blacklisted in Nigeria, let’s quickly see an easy way to know how you can get a credit Bureau report in Nigeria
How to get a credit Bureau report in Nigeria
There are over four registered credit bureau blacklisting in Nigeria where you can get your credit report in 2022. You can get your credit report online from any of the CRC credit bureaus in Nigeria and you might have to pay for that.
Although all Nigerians are entitled to get one free report each year, you can also use this method below to know if your bvn is blacklisted in Nigeria.
There are two basic known steps to get a credit report in Nigeria and they are listed below
1. Contact a licensed credit bureau in Nigeria
A credit bureau is a private company that has been licensed by the Central Bank of Nigeria (CBN) to keep a database of defaulters who have not paid their debts within the time frame specified by their lender.
The CBN does not keep a record of Nigerians’ credit reports but instead outsources them to private companies that can show you yours for a fee.
The three main credit bureau agencies licensed to operate in Nigeria, as well as their websites, are listed below.
2. Using CRC Credit Bureau USSD code
Every Nigerian is entitled to one free Credit report every month from any registered Nigerian Credit Bureau. To get a free credit report in Nigeria, use any of the following sources: Dial the USSD code *565*8# on your mobile phone to get instant Credit reports from CRC Credit Bureau.
You can contact credit bureau Nigeria by sending an email to firstname.lastname@example.org or make a call via +234 904 911 7625, +234 818 215 1989, and a member of the service team will respond accordingly.
Here’s how to know If your BVN Is Blacklisted In Nigeria 2022
Several factors can help you determine if your bvn has been blacklisted in Nigeria, such as your inability to transact or your bank contacting you.
But the most effective way to know if your bvn is blacklisted in Nigeria is to use any of the registered Credit Bureau portals in Nigeria. There are three known accredited credit bureau blacklisting in Nigeria that would enable you to know if your bvn is blacklisted, why you were blacklisted, and also give you tips on how to unblacklist or remove your name as soon as possible.
The three main credit bureau agencies licensed to operate in Nigeria, as well as their websites, are listed below.
When the Central bank of Nigeria places your bvn on the black list, it usually reflects for up to 5 – 10 years or until you appeal, pay off your debt or prove your Innocence, then the court rescinds the order.
Procedures to know if your bvn is blacklisted in Nigeria
Let’s see how to check my credit bureau status in Nigeria? To check online if your bvn is being blacklisted by the Central Bank of Nigeria (CBN), there are basic steps that must be followed and they are listed below;
1. Click on any registered first central credit bureau, and create an account by signing up. Submit all required details such as an address, city, and so on.
Any of the crc credit bureaus might just ask for your BVN and phone number alone
2. Enter your Bvn and phone number, into the space provided, then click on register. Then a code would be sent to your message inbox.
3. Provide all additional value-added details that would be required such as date of birth, country, and more.
4. Then click on register, you’ll be redirected to your homepage where you can ask for your credit report which would enable you to detect if your bvn is blacklisted in Nigeria.
Alternative procedures to know if your bvn is blacklisted in Nigeria
If you’re unable to transact, you can either write to your local bank or contact the CBN. You can submit your letter at the CBN Head Office OR any of the Central Bank of Nigeria branches nationwide.
The CBN deals with all financial-related complaints so far as it is against Financial Institutions within its regulatory purview. Your complaint should be clear and concise to avoid ambiguity.
To check my credit score in Nigeria, dial the USSD code *565*8# on your mobile phone to get instant Credit reports from CRC Credit Bureau. And you’ll get a free credit report from Nigeria’s first independent licensed credit bureau.
What To Do If Your Bvn Is Blacklisted
Have you had your bvn blacklisted and are unsure what to do? To be honest, getting out of these isn’t as simple as you might think. You may have to go through several procedures for several years.
The steps below would help you and here they are;
1. If you were blacklisted because of your inability to repay your loan on time, the best thing to do is to contact your bank or CBN to know the exact amount and terms to repay.
2. If you were blacklisted because of a bounced check, the right step is to contact your local bank manager to rectify the issue. And within a couple of days, your name would be removed from the list.
3. If your bvn is blacklisted because of fraudulent transactions or activities, the best procedure is to contact your bank. Do not go to the bank physically unless you want to be arrested.
It is advisable to get a lawyer in this case if you know you’re pure and that was just a mistake.
What are the disadvantages of being blacklisted?
There are so many disadvantages to being blacklisted in Nigeria,
1. Unable to secure some government deals
Having your BVN blacklisted is bad and can limit your opportunities. Certain government jobs, such as those with the Nigerian Intelligence Agency or the Central Bank of Nigeria, may require applicants to have a spotless credit history.
2. Unable to get jobs
Some businesses do check the credit histories of their prospective workers; banks and other financial organizations, in particular, will not consider hiring persons with bad credit, not even entrusting them with sales or accounting positions.
3. Unable to secure a loan
Can loan apps blacklist my bvn? Yes, your bvn would be reported to the crc credit bureau if you’re unable to repay your loan. And this would lead to your bank verification number being reported to all loan lenders in Nigeria.
Here are some steps to remove your name from the blacklist in Nigeria
How do I remove my name from the blacklist? Well, there are couples of sacrifices to be paid. Let the truth be told, the main way to remove your name is to pay all your outstanding debt, then contact the CBN to clear or update your credit score status.
Further effective help is labelled below;
1. Contact Credit Bureau
If your credit score was lowered due to defaulting loans, pay off your debt and contact your indebted to notify the credit bureau agency about your status.
Furthermore, if the process seems so slow, you may apply to the credit bureau where you were listed as blacklisted to update your status. This can be done by contacting the Bureau via phone/email: Email: email@example.com and phone number +234-807-209-0622.
When writing, make sure you add your name, phone number, your BVN, a screenshot of your transactions, and any other documents that might be requested.
2. Get a clearance certificate or letter of non-indebtedness
Only those who are represented by an attorney or lawyer may obtain a letter of non-indebtedness. You will need to submit a clearance certificate from your attorney to the credit bureau for lender verification.
This has been the fastest process to get your name removed from the list of loan defaulters in Nigeria 2022.
How long does it take to be removed from the credit bureau blacklist in Nigeria?
In Nigeria, it takes between 2 and 5 years, depending on the amount of the defaulted loan. A repayment plan can last 36, 40, or more months and during this period, your salary would be monitored, and your financial activities would also be monitored to ensure safe payments.
It is also important to note that there is no time limit for having your name or BVN removed from the Nigerian credit bureau blacklist. Depending on how the issue is resolved, it could take as little as 2-4 weeks for some people.
What happens if you don’t pay back a personal loan in Nigeria?
What happens when you default on a loan in Nigeria is that your bvn would be restricted and you’ll no longer be able to carry out financial services like sending or receiving money again.
Furthermore, you’ll be greatly indebted and your interest fees would be increasing gradually so also your fees for damages cost.
If you are referring to a commercial bank loan, and you are unable to pay your loan interest, your loan becomes non-performing, and the bank bears the burden.
In addition to seizing your collateral, your name will be blacklisted and reported to regulatory bodies such as the CBN and the Credit Bureau.
And this is what happens when a bank blacklists you, you will be unable to obtain additional loans or take on most government responsibilities. Your credit score will also suffer as a result. Loans are the primary source of revenue for banks, and banks hate losing money.
Can I go to jail for not paying online loans in Nigeria?
No, you can’t go to jail for defaulting on a loan in Nigeria. Defaulting on a loan will not immediately land you in jail, but it is also possible.
Because loan default is a civil offence rather than a criminal offence, arrests cannot take place on the spot. As a last resort, banks or online loan portals would turn to civil court (via their legal team).
And if your loan lender or bank has gone to court, you will still have a voice because your credit score and credit history will speak for you.
If your credit history and repayment plan are not worth it, online loans or banks will not have given you a large loan. They took the risk of providing you with unsecured loans only after evaluating your credit history.
When your defence is pleaded, it will be presented to the jury. Unexpected events such as accidents, health issues, and job loss can cause you not to be able to repay and online loans cannot hold you liable if you default for one of these legitimate reasons.
If you are challenged in court about your credit history and you can prove it with a decade of successful history and you plead that you became a defaulter only due to a genuine medical or job loss situation, believe me, you will still have an advantage in negotiating terms and you will never go to jail.
Is debt a Criminal Offence in Nigeria?
Engaging in debt can be a criminal offence and might also not be. The answer is yes and no. Here’s why!
Yes, it is a civil crime, similar to a breach of contract. If your creditor can prove fraud, taking out a loan with the intention of not repaying it becomes a criminal offence.
When you take out a loan, you sign a contract, you make a legal agreement, and you promise to repay what you borrowed. There are consequences for breaking your word and breaking that legal contract. It is not a gift.
They loaned you money with the understanding that you would repay it. This is not your money. They can and will recover it in some way.
On the other hand, the answer is No. Owing a debt, as well as a debtor’s refusal, failure, or inability to liquidate his debts, is not a criminal offence punishable under Nigerian law.
But you should know that legal terms would be carried out against you.
Final Thought to know if your bvn is blacklisted in Nigeria 2022
To know if your bvn has been blacklisted, follow every step provided in this article and you’ll be able to get your report status.
This was a guide on how to know if your bvn is blacklisted in Nigeria. Hope you had a great time reading through and if you have any questions, don’t hesitate to ask and also share this article.
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