The Bank Verification Number started in the year 2014 in Nigeria which was initiated by the Central Bank of Nigeria to centralize Nigeria’s banking data system through the collection of biometric, information of customers which include fingerprints and signature. This idea has been met with mixed feelings by bank customers.
We discover that so many customers find it difficult to register due to the fact that they feel skeptical about the process “This may be because of ignorance”.
Now the registration for BVN has been schedule to end on 31st of October 2015 and we notice some customers flopping into the bank to get theirs done.
The question is “Why should we delay something so vital for us to do to avoid discrepancies “. Its seems so many people don’t know the important of registering for BVN. Well. So many may not be able to fathom the reason but we are WIZLOADED have compose 5 steps to make comprehend the reason why you need it.

Unique Identity
The BVN number is unique to every bank customers. As a result, the identity of that customer can easily be verified at any bank regardless of whether their accounts are domiciled in that bank on not. It creates a central database that can be accessed by all banks by mere entering the BVN number into their computer system.

To check Fraud
Credit card fraud, identity theft, issuance of dud cheques and other banking fraud can easily be checked with the use of the BVN number as it is unique to every bank customer. Interestingly, it will also make banking fraud difficult as the perpetrator can easily be traced and caught.

Track Loan defaulters
Some bank customers including the influential ones are fond of gallivanting from one bank to another soliciting and collecting loans. They use this trick to delay the settlement of loans at banks. With the BVN number, the indiscriminate collection of loans will be halted.

Blacklisted Customers
Fraud will drastically decline with the use BVN. As an added advantage, blacklisted and fraudulent customers can easily be apprehended across all the banks, thus preventing them from transacting business with banks. This system will sanitize Nigeria’s banking system.

Read more http://www.wizloaded.com/2015/10/5-reasons-for-registering-for-bvn.html

Good info

i stil bliv its a scam

BVN is a good policy and a welcome development, hope it doesn't end up like SIM card registration in Nigeria.