Bank Verification Number registration is the Central Bank Of Nigeria's response to the loophole that exposes retail banks' customers to fraud and unauthorised cash withdrawal. The Central Bank mandate all account holders to sign up for BVN at their respective banks. The initial deadline was set to 30 June 2015 but it has been extended to 31 October 2015.
The process include the caption customers biometric and the issuance of a Bank Verification Number, you will need this number to make any transaction on your account. And also your captured finger print may be needed at ATM to make cash withdrawal.
Finger print enabled ATM are already being seen in few places in the country.
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