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Tag: BVN

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CBN bars under-18s from BVN registration starting May 1

The Central Bank of Nigeria has restricted Bank Verification Number enrolment to persons aged 18 years and above as part of new amendments to its regulatory framework for BVN operations in the banking industry. Tribune reported that the apex bank disclosed this in a circular issued to all banks, other financial institutions and payment service […]

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BVN uncovered 45,000 ghost workers in FG payroll — Kemi Adeosun

Former Minister of Finance, Kemi Adeosun, has detailed how the Federal Government leveraged technology to eliminate massive payroll fraud. The integration of the Bank Verification Number led to the discovery of 45,000 ‘ghost workers.’ The PUNCH reported that speaking at the Citadel School of Government Dialogue series in Lagos, Adeosun explained that before the intervention, […]

BVN enrollment hits 63.4m amid regulatory push
Business

BVN database hits 68.6m in March 2026

Nigeria’s Bank Verification Number database reached 68.6 million in March 2026, reflecting continued efforts by Nigerians to link their bank accounts. Data from the Nigeria Inter-Bank Settlement System shows, however, that the pace of new registrations has slowed compared with previous years, following the introduction of new rules by the Central Bank of Nigeria last […]

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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
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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
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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
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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 […]

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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
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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 […]

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