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Tag: BVN

Banking featured

CBN tightens BVN rules, restricts phone number changes to one

The Central Bank of Nigeria has mandated all banks and other financial institutions to establish and maintain a temporary watchlist for Bank Verification Numbers implicated in suspected fraudulent transactions. This directive takes effect from May 1, 2026. The apex bank issued the instruction in a circular addressed to all banks, other financial institutions, and payment […]

Banking

BVN enrolments hit 67.8m by December 2025

The Nigeria Inter-Bank Settlement System has reported a significant increase in Bank Verification Number enrolments, revealing that registrations climbed by 6.8 per cent year-on-year to 67.8 million as of December 2025. This represents a rise from the 63.5 million BVNs recorded during the same period in 2024. In a statement released on its official website, […]

BVN enrollment hits 63.4m amid regulatory push
News

BVN enrollment hits 63.4m amid regulatory push

The number of Bank Verification Number enrollments by bank account holders in Nigeria has seen a notable increase, reaching 63.4 million as of September 2024. This growth was recently disclosed by the Nigeria Inter-Bank Settlement System, which tracks BVN data across the financial sector. Compared to the 62.7 million registered in July 2024, this figure […]

Active Nigerian bank accounts hit 151 million - NIBSS
News

63.1 million Nigerians enrolled for BVN in five years – NIBSS

The number of Nigerians enrolled in the Bank Verification Number system has surged by 38 percent over the past five years, reaching 63.1 million as of September 2024. This increase reflects the growing importance of the BVN system in enhancing financial inclusion and security within the banking sector. This is contained in data from the […]

BVN registration hits 60.2m as CBN deadline nears
News

BVN registration hits 60.2m as CBN deadline nears

The number of people who have registered for a Bank Verification Number has risen to 60.2 million as of January 10, 2024. This was disclosed in the most recent BVN registration data issued by the Nigeria Inter-Bank Settlement System. The BVN database reached at 59.9 million as of December 18, 2023. According to this, between late […]

BVN registration hits 60.2m as CBN deadline nears
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BVN enrollment nears 60m ahead of CBN deadline

As the Central Bank of Nigeria’s December 18, 2023, deadline approaches for the registration for the Bank Verification Number, the number of registered Nigerians has hit 59.9 million. This is according to the latest BVN registration data update released by the Nigeria Inter-Bank Settlement System, as seen by AMBusiness. The most recent NIBSS data, issued […]

CBN
Banking

No BVN, NIN, no bank transactions from April — CBN

The central bank has declared that all bank accounts without a BVN and NIN will be placed on “Post no Debit” status beginning in April 2024. According to Nairametrics, all deposit money banks received a circular from the central bank that included this information. The central bank further declared that by January 31, 2024, any […]

BVN database hits 58.7m as registrations declinesBVN database hits 58.7m as registrations declines
News Tech

BVN database hits 58.7m as registrations declines

By Bisola David   58.7 million Nigerians owned bank accounts with a Bank Verification Number as of September 12, 2023. The Times reported that the most recent BVN registration data made available by the Nigeria Inter-Bank Settlement System revealed this. Despite recent efforts by the Central Bank of Nigeria to cancel all unlinked bank accounts, […]

CBN gets new spokesperson
Banking featured

Why BVN has no expiry date — CBN

By Wilson Adekumola   The Central Bank of Nigeria, has reacted to reports suggesting that the Bank Verification Number expires after 10 years, saying that it has no expiry date.   CBN’s spokesman, Dr. Isa AbdulMumin, made the clarification in a statement Wednesday night.   He explained that once the customer’s biometric has been captured […]

Easy guide for BVN registration
Banking

Easy guide for BVN registration

If you’re looking to open a bank account in Nigeria, or you already have one, chances are that you have heard about BVN registration. BVN stands for Bank Verification Number, and it’s a unique identifier that is assigned to every customer in the Nigerian banking system. The Central Bank of Nigeria implemented BVN registration in […]

Banking

How Nigeria’s BVN registration hit 56.5m in 2022

The Nigeria Inter-Bank Settlement System, have revealed that banks in Nigeria registered 4.8 million new Bank Verification Numbers in 2022. According to Nairametrics, this increased the nation’s total number of BVNs that were registered to 56.5 million. The size of the BVN database was 51.7 million as of December 2021. The BVN database’s growth slowed […]

News

6,047 BVN on watchlist over fraudulent activities – CBN

  Findings have revealed that the Central Bank of Nigeria has placed at least 6,047 Bank Verification Numbers of bank customers under its watchlist. According to The PUNCH, this was contained in the CBN Financial Stability June 2022 report published in December 2022. 11,871 BVNs have been added to the watch list this year as […]

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