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How Yahoo Boys Use Your BVN To Steal Money From Your Bank Accounts in Nigeria

Last updated on September 28th, 2022 at 07:30 pm


There are many things associated with your Bank Verification Number, that’s why you’re advised to keep it or never share it with a stranger. Have you been wondering how 419 or Yahoo Boys ( online fraudsters) in Nigeria could use your BVN to steal money from your bank account?

In this post, we’ll tell you why you need to securely safeguard your Bank Verification Number (BVN).

Quick one:


Sometimes ago, one of our members on InfomediaNG WhatsApp Group asked:

Please is there any way Yahoo boys (419) can wipe one’s bank account without ATM Debit Card pin and the digit number behind the card by using just BVN number?

Recall that the BVN was launched by the Central Bank of Nigeria (CBN) sometime in February 2014.

It was done in collaboration with the Banker’s Committee as a centralized biometric identification system for the Nigerian banking industry.

It is a unique identification 11-digit number issued to every bank customer and linked to their bank accounts

Aim of BVN

1) To stem the increasing case of identity fraud in the banking industry.

2) To the number of accounts an individual operate among others

Since the commencement of the BVN enrolment, close to 50 million Nigerian bank customers have been enrolled. The number continues to grow as more people are banked.

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Your BVN is the key to your banking accounts. If you operate five or more bank accounts, once your BVN is carelessly given out to a dubious fellow, all your accounts are at risk.

What a banker says

Someone who claimed to be a banker stated that there may not be any risk involved in disclosing your BVN, saying it does not pose any threat to the funds in your bank account

But we disagree with that submission. Because some bank officials in Nigeria have in the past compromised the information of their customers. They do this in connivance with 419 for them to get a certain percentage of the act.

Remember, fraudsters have a way of expanding their coast, by using ill-gotten wealth to win the hearts of those who would be helpful in perpetrating more financial fraud, banking officials are their major target in this act.

This is how Yahoo Boys use your BVN to steal money from bank accounts if you’re not careful about where which platform, and who you share your 11-digit BVN with.

Step 1: The fraudster establishes a good rapport with banking officials

Step 2: He obtains your BVN, name, and account number through a fake Google form, fake loan or grant portal where you’re directed to fill in some of your banking details to access the loan.

Step 3: He uses the details he has to obtain your financial details from his accomplice within the bank

Step 4: He uses your phone numbers to trick you into volunteering sensitive information like your Bank Card details, ATM Pin, USSD, Mobile, and Online Banking Passwords.

Also Read:  NIN Registration Centres In Lagos State

If you give out the above details, welcome to unsolicited debit alerts.

Sometimes, they would call you, saying “we received your application, but we need to confirm that you are truly the applicant for the loan”

It’s part of their gimmick.


No bank officials would ever call you instructing you to disclose your ATM card details or password. Don’t be lured regardless of the offer.

And in case you already did, there is a remedy…

Dial a USSD code to block withdrawal from your bank account or call the customer support of your bank for swift action.

Confession How Yahoo Boy Uses Bvn On a Stolen Sim Card To Transfer Money From Victims Bank Account

In the video below, a Yahoo Boy (419) that is online fraudster confesses on how he uses the Bank Verification Number (BVN) found on the SIM card of his victims to transfer several dubious transfers from their bank accounts to what he called untraceable account.

In this video, he speaks the Yoruba Language. He said he looks for the bank code of the bank attached to the sim card and then begins his operation.

How he gets the BVN:

He said he has a code he dials to access that on any sim card he lays his hands on, saying that he uses the bank codes on any sim card that receives bank alerts to transfer money to another account which he has access.

He also mentioned that he takes loans from the empty salary bank accounts by using the sim cards to request loans from the owners’ bank.

Also Read:  The documents you need to correct your NIN Data on the NIMC Self-Service Portal


Have you been tricked before or you’ve handed out your BVN to unknown people in recent time?


If you have mistakenly revealed your BVN to a stranger or on a suspicious website, there is a way to keep your account safe.

One thing about BVN is that it contains your sensitive data: name, phone number, home address, email address.

However, your BVN doesn’t contain your debit card information and as we write some banks are already limiting the amount you can transfer using the USSD code, if it’s above the limit, you would be mandated to enter the last six-digit of your debit card or use your Hardware token if you do a lot of online banking.

As such, you can go to the nearest branch of your bank to update your info to safeguard your bank account.

And if you’ve ignorantly given out the 16-digit on your debit card online before realising the danger in such action, kindly deactivate the card and approach your bank to request a new one.

Moving forward, stop sharing your BVN carelessly with strangers. Your bank doesn’t and will never ask for your sensitive bank details via SMS or email. Never share such with dubious individuals who may have gotten your phone number online or forum or a website.

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7 thoughts on “How Yahoo Boys Use Your BVN To Steal Money From Your Bank Accounts in Nigeria”

  1. Edeguare Oghenero

    Is it possible for someone that knows my name, phone number,email address,bank name,date of birth with the first four digit of my BVN to hack my account

  2. Someone got access to my bvn but do they have to get access to my card details or OTP before transaction can be done by them.

    1. Yes, without those, then the BVN is useless. See this CBN reference in paragraph 4 thus:

      “The BVN is neither a payment instrument nor an account number and therefore could not be used to access any account by unauthorized users. The banks, BDC operators and even regulators use the BVN to validate the identity of a customer using some biometric information such as finger prints and photograph obtained at the point of enrolment.”

  3. Can a scammer get your bvn by swapping your sim card and what will happen if you later find out and shut the account then open a new one with new phone number in another bank

  4. Is it possible to withdraw from someone account by having the bvn,phone number,but the owner of the account never make use of the atm infact the owner of the account don’t collect atm he make use of cashbook can I withdraw from him

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