Data released by the Nigeria Inter-Bank Settlement System (NIBSS) has revealed that enrolments for the Biometric Verification Number (BVN) by bank customers in the country has reached 54.77million as at last month.
The NIBSS data also showed that a total of 700,000 bank customers in three months between April 10, 2022, and July 10, 2022, enrolled in the initiative introduced by the Central Bank of Nigeria (CBN) to tackle identity challenges in the banking sector.
NIBSS data showed that active bank accounts in the country stood at 133.5 million as of December 2021. It means 78.73 bank customers have not registered their BVN in any of the 22 banks in the country.
While there may be multiple accounts linked to a single BVN, industry analysts said there is still a gap between bank accounts and BVN registrations, which must be filled.
Speaking with THISDAY, the Managing Director, Highcap Securities Limited, Mr. David Adnori said the over 770 million gaps in bank’s customers yet to register their BVN calls for concerns. He, however, encouraged bank customers to update their accounts with BVN in order to drive financial inclusion of the CBN.