Customers of many banks who had struggled to beat the deadline for the ongoing registration for the Bank Verification Number, BVN, heaved a sigh of relieve when the Central Bank of Nigeria, CBN, extended the deadline till October 31, 2015. The apex bank, in an official statement issued, explained that it became necessary to extend the closing date for the registration from Tuesday, June 30, 2015 so as to give sufficient time to customers of banks abroad to enrol in the programme.

Parts of the reasons adduced for the extension was also to give Nigerians who have lately thronged banking halls across the nation enough time to register for the BVN. The BVN registration is part of requirements for the Know Your Customer, KYC, guidelines, which all Deposit Money bank customers are required to participate in to validate the ownership of their accounts.