Hello all nairalanders, i saw a topic today on front page (fp) concerning the on going bvn (Bank Verification Number) and i took an excuse from work just now, in order for me to go to the bank and do mine, so i want u guys to enlighten me on why it is necessery and why does one has to do it.

When you get to the bank, ask your banker. But if you insist on getting info from here, all the best.

firstEVA:
When you get to the bank, ask your banker. But if you insist on getting info from here, all the best.

tnx 4 ur opinion, bt am still at home waiting for a suitable opinion to clear me all i needs to know , before i takes my live

It's very important, it's to check mate cases of fraud. If you don't have a BVN number you will not be able to operate your account soon.

pls whats the full meaning of BVN?? i ve been hearing that for sometime now

BVN means Biometric Verification Number. It is the the number you get from the bank after your picture, finger prints and signature have been captured electronically and successfully added to the data base. You do not get this number immediately you enrole, but within 24 hours after enroling.
The essence of the BVN is to ease banking transactions and equally check fraud and corruption. With your BVN you can cash third party checks in any bank without presenting any means of identification, in the near future. Your BVN will suffice.
The last government was working towards integrating the Identification data bases in the country. As such your National Identity Card, Voter's Card, NDL, international passport and all others will be linked to your bank details. That way, all transactions originated, consummated or terminated by you can easily be linked to you. I guess that is what the last president, GEJ,was referring to when he said they were working on fighting corruption with institutions and technology. The next stage in the process is to get and provide your National Identity Number to you bank. This I believe can be gotten from the DNCR office near you. The banks will soon demand for that.
However, back to the BVN, if you register and get the number in one bank. You do not have to register in other banks where you have accounts. You only need to submit the initial BVN to your other banks for them to update your records. It is expected that at a time CBN will mandate banks to block all accounts without BVN. So ensure you update ALL your accounts with your BVN, as soon as you can. You can even register in a bank that you do not have account. Enjoy a new Nigeria!