The Bank Verification Number (BVN) database in Nigeria has reached a significant milestone, hitting 66,230,369 enrollments as of July 2025, according to new data released by the Nigeria Inter-Bank Settlement System (NIBSS).
This figure reflects a 4.3% increase from the 63.48 million BVNs recorded at the close of 2024—an impressive surge achieved within just seven months. The boost marks 2025 as one of the most promising years for BVN enrollment since the system’s steady climb began in 2021.
A breakdown of the four-year trend shows:
- 2021: 51.9 million enrollments
- 2022: Rose by 7.9% to 56 million
- 2023: Up by 7.4% to 60.1 million
- 2024: Slowed to 5.6% growth, ending at 63.48 million
With 2025 already delivering a 4.3% increase in just over half the year, the system is well-positioned to surpass the total growth recorded in 2024 by December.
A major contributor to the recent surge is the Non-Resident Bank Verification Number (NRBVN) initiative, which has expanded access to Nigerians in the diaspora and non-resident account holders seeking to align with the national banking ID system.
The renewed momentum highlights growing trust in biometric identity systems and their role in enhancing financial security, combating fraud, and promoting inclusion in Nigeria’s evolving banking landscape.
