Bank customers in Nigeria are reported to be rushing to register for their biometric banking cards as the deadline for the compulsory BVNs looms.
The Central Bank of Nigeria (CBN) deadline for customers to register for the Bank Verification Number (BVN) is tomorrow, Tuesday, June 30.
The BVN project, which was launched in February 2014, seeks to improve banking security with biometric authentication of banking customers.
BVN gives a unique identity that can be verified across the Nigerian banking industry.
It is expected to protect accounts from unauthorized access, as well as speeding up transactions and enabling standardized identification across all banks, ATMs and POS machines in Nigeria.
The project is reported to have allocated between 12 million and 15 million BVNs to banking customers to date. Enrolment is compulsory, with customers required to register for their BVNs at the banks where they hold accounts. After the cutoff date, those who do not have BVNs will not be able to transact until they have registered.
