Almost all loan apps and loan providers in Nigeria require that you must provide your bank verification number (BVN) before you can get a loan.
This requirement is always compulsory and without it you won't even be able to apply for a loan.
Now the question is why is BVN a compulsory requirement when applying for a loan in Nigeria?
BVN is compulsory so that the real identity of the person applying for the loan will be gotten and the person will not be able to evade paying back the loan.
Every Nigerian has just one BVN and that BVN is linked to all the bank accounts operated by the individual.
If an individual tries to evade paying back the loan the BVN will be used to get the money from the individuals other bank accounts.
So are there loan providers and loan apps that don't require BVN?
The honest answer is that there is no loan app in Nigeria that does not require for BVN.
This is a very important requirement and it is regulated by the Central Bank of Nigeria.
Getting a loan without BVN is not possible except you go to offline private money lenders.