Bank Verification Number (BVN): Things You Need To Know
In an effort to further strengthen the banking industry in Nigeria, the Central Bank of Nigeria (CBN) in February introduced the Bank Verification Number (BVN). This is a very important step by the CBN to re-emphasize the cashless policy which Nigerians seem slow to understand. The exercise, which will be rounded off by June 30th, 2015 was introduced to protect the banking interests of Nigerians among other things. Failure to get your BVN may be detrimental except for those who will resort to home savings and adopt a “cashful” policy.