The Nigeria Inter-Bank Settlement System (NIBSS) data has shown that the number of Nigerian bank account owners linked to Bank Verification Number (BVN) hit 66.2 million at the end of July, 2025.
The current data showed significant surge from 64.8 million recorded in January 2025 and 63.5 million as at December 2024. The data showed that 2.7 million new BVN enrolments were recorded between December 2024 and July 2025.
Further analysis of the NIBSS data showed that as at 2021, 51.9 million accounts were linked to BVN, it rose to 56 million in 2022, and 60.1 million in 2023 and closed 2024 at 63.5 million.
According to NIBSS, the BVN gives bank account owners a unique identity that can be verified across the Nigerian banking industry, while it ensures that customers’ bank accounts are protected from unauthorised access.
The BVN project, which captures the uniqueness of every bank customer, is one of the most-innovative projects introduced into the financial system in 2014.
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