Swift Code/BIC Is It Same As BVN



👉Swift code/ BIC:  A SWIFT code — sometimes also called a SWIFT number — is a standard format for Business Identifier Codes (BIC). It’s used to identify banks and financial institutions globally. It says who and where they are — a sort of international bank code or ID.

   These codes are used when transferring money between banks, in particular for international wire transfers or SEPA payments. Banks also use these codes to exchanging messages.

👉BVN: As you may already be aware, the Central Bank of Nigeria (CBN) in conjunction with the Bankers Committee has launched the Biometric Identification Project to provide a single biometric database for all banks’ customers nationwide. 
   
     Part of the requirements within this initiative is that customers enroll with their banks to get their unique Bank Verification Numbers (BVN), without which customers will not be able to transact in any bank if not obtained.


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