THE IMPLICATION OF BANK VERIFICATION NUMBER ON CUSTOMERS IN BANKING SECTOR

ABSTRACT

The Bank Verification Number (BVN) gives each Bank customer a unique identity across the Nigerian Banking industry that can be used for easy identification and verification at Point of Banking operations. This study was undertaken majorly to access the implication of bank verification number on bank customers in the banking sector. Descriptive survey was adopted in this study. The entire costumers of Access Bank, Okada totaling (264) costumers constituted the population of the study. Purposive sampling technique was used to select these staff of Access Bank Plc Okada, the sample size was derived using Yaro Yamnane formular. The questionnaire was drawn, 55 questionnaires was distributed to the junior staff while 18 were also distributed to the senior staff in Access Banks Plc, Okada. The basic simple analytical tools used in the analysis. Include, use of simple percentage and the Chi-Square method. It was deduced from the finding that the introduction of BVN is still fresh, the customers experience stress ranges from one problem of the other across board. Finally, the idea of BVN was highly appreciated by customer under study. The results from the hypotheses tested shows that Bank Verification Number have significant implication on the customers in the Banking Sector where the X2 = 18.86 at 0.05 level of significance. However, there should be more awareness on the importance of bank verification number (BVN) to customers operating across the banking sector in Nigeria.

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