Be Ready — understand the basics of investing
Understand the basics of investing
What Be Ready is for
Getting investor ready starts before the IPO.
Opportunity doesn't wait for paperwork.
Prepare today. Invest tomorrow.
When the IPO arrives, will you be ready?
Be Ready is the investor education platform that helps everyday Nigerians understand the basics, prepare what they need, and participate more safely and confidently when opportunities arise.
Getting your BVN, by the numbers
- 3 Things to do before you apply
- 1 Bank visit
- 24 To receive your BVN by SMS
- 11 Digits, yours alone
The role of Be Ready
Investing should not feel like a secret language.
Three things we do, in the order you need them.
-
Understand
Plain language, no jargon. Say it like you would explain it to a friend.
-
Prepare
Get your paperwork in order before you need it, not after.
-
Participate
Take part with confidence when the next opportunity comes around.
BVN education
What is a BVN?
Your identity anchor across the entire Nigerian banking system, and the first thing you need before you can apply for shares.
A Bank Verification Number (BVN) is a unique biometric identification number issued by the Central Bank of Nigeria. Launched in February 2014, it links your fingerprints and facial image to a single identity across every bank in Nigeria. It provides a unique identifier in the Nigerian banking industry.
Source: Central Bank of Nigeria
Account tiers
Who needs what?
-
BVN or NIN required
The entry-level account, with the lowest transaction and balance limits.
-
Both BVN and NIN required
Higher limits, and the point at which both identifiers become mandatory.
-
Both BVN and NIN required
Full-service accounts, the tier a share application will normally sit behind.
Requirements effective December 2023, per CBN directive.
Why BVN matters
You cannot apply for shares without one.
The Nigerian Stock Exchange requires a BVN and a CBN-licensed bank account before you can apply for shares.
“Close enough” is not enough.
A mismatch between your BVN and your bank account, a shortened name, an old phone number, a different date of birth, is enough to delay or reject a share application. Checking early costs nothing. Checking late can cost you the window.
Get ready
Three things to do before you can apply.
Simple steps now save time later.
-
Get your BVN
Nothing else moves without it. One bank visit, set out step by step below.
-
Open an account with a CBN-licensed bank
You need a full bank account, not a wallet or fintech account. An eligible account at a CBN-licensed commercial bank, registered in your own name.
-
Make sure the details on both match exactly
Your name, date of birth and phone number on your BVN and your bank account must be identical. Mismatches delay or reject your share application. Check now, fix early.
BVN enrolment process
How to get your BVN
It takes one bank visit. Here is exactly what to expect.
-
Step 1
Visit any bank branch
Walk into any CBN-licensed bank. Bring valid government-issued ID: NIN slip, international passport, driver's licence or voter's card. You do not need to be an existing customer.
-
Step 2
Complete the BVN enrolment form
Request and fill out the BVN Enrolment Form at the branch. It captures your full name, date of birth, phone number and address. Double-check every field, accuracy matters.
-
Step 3
Provide your biometric data
A bank officer will capture all ten fingerprints and your facial photograph. This biometric data is what makes your BVN uniquely yours. It cannot be duplicated.
-
Step 4
Collect your acknowledgement slip
After enrolment, collect your transaction acknowledgement slip. Keep it safe, it confirms your enrolment is in process and gives you a reference number.
-
Step 5
Receive your BVN via SMS
Within 24 hours you will receive an SMS with your unique 11-digit Bank Verification Number. Your BVN is now active across all Nigerian banks. Note it down somewhere safe.
Source: Central Bank of Nigeria
Your next step
Be investor ready.
Short lessons, sent as they go out. Sort your BVN now and the next step will already make sense when it comes.