The Nigeria Inter-Bank Settlement System (NIBSS) has disclosed that Bank Verification Number (BVN) enrolments increased by 6.8 per cent year-on-year to 67.8 million as of December 2025, up from 63.5 million recorded in the same period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives. According to the data, more than 4.3 million new BVNs were issued within the one-year period, highlighting the growing adoption of biometric identification as a requirement for accessing financial services in Nigeria.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion strategy and digital identity framework. Analysts linked the surge largely to regulatory measures introduced by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect in April 2024. The policy compelled many bank customers to regularise their biometric records to maintain access to financial services.
Another significant driver of growth was the introduction of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without being physically present in the country. The programme has been widely regarded as a milestone in integrating the diaspora population into Nigeria’s formal financial system.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The trend reflects improved compliance with biometric identity requirements and wider coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag behind the total number of active bank accounts, which exceeded 320 million as of March 2025. The gap, it explained, is largely due to customers operating multiple bank accounts linked to a single BVN, as well as individuals yet to complete enrolment despite the progress recorded.
