NIBSS bans Paystack, other fintech firms from using BVN validation

(Last Updated On: 2021-04-10)

The Nigerian Interbank Settlement System, NIBSS, has issued a directive to block all fintech firms from using bvn validation.

Non-banking firms in Nigeria would no longer be able to provide Bank Verification Number (BVN) validation for their customers, following a directive from the primary custodian of Nigeria’s BVN service, NIBSS.

The affected fintech companies include Paystack, Flutterwave, and all non-bank firms that provide financial services.

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