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From Adanna Nnamani, Abuja
Nigeria recorded a major boost in its banking identity system in 2025, as 4.3 million new Bank Verification Numbers (BVNs) were registered across the country.
A BVN is a unique biometric identification number issued to bank customers to link all their accounts across Nigerian banks and protect against unauthorised access.
Latest data released by the Nigeria Inter-Bank Settlement System (NIBSS) showed that total BVN enrolments rose to 67.8 million by December 2025, up from 63.5 million recorded in 2024.
The increase shows the growing adoption of biometric identification in the banking sector, driven largely by regulatory enforcement and policy measures introduced by the Central Bank of Nigeria (CBN).
Key among the measures was the CBN’s directive to freeze bank accounts without BVN and National Identification Number (NIN) from April 2024, a move that compelled many customers to regularise their banking records to retain access to their accounts.
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Also contributing to the surge was the introduction and expansion of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to enrol for BVNs remotely, eliminating the need for physical presence in the country.
The NRBVN scheme is widely seen as a milestone in efforts to deepen financial inclusion and integrate Nigerians abroad into the country’s formal financial system.
Industry analysts say the additional 4.3 million BVNs registered in 2025 point to stronger compliance with biometric identity requirements and improved customer identification across financial institutions.
They noted that the expansion is expected to enhance fraud prevention, strengthen anti-money laundering and know-your-customer practices, and widen access to formal financial services, particularly for previously excluded or underserved populations.
Despite the growth, BVN enrolment still trails the total number of active bank accounts in Nigeria, which stood at over 320 million as of March 2025, indicating multiple accounts linked to individual BVNs and the presence of some unregistered customers.
