BVN means Bank Verification Number. The objective of the BVN is to uniquely verify the identity of each Bank’s customer know the customer. A customer enrolls at any branch of a bank where he/she has an account or intends to open an account. It is compulsory for every customer.
When The CBN announced the commencement date for the BVN and it closing date, as in the character of many Nigerians, customers waited for the last day to register while some speculated strongly that The CBN will extend the date. True to the speculation, CBN extended the closing date to 30th October.
The question is shouldn’t CBN stick to the closing date and there after sanction those that didn’t register within the given time. This would have served as a deterrent and would make Nigerians keep the rule of keeping a date.