BVN Enrollment Grows by 1.4m in Six Months — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has announced that Bank Verification Number (BVN) enrollments reached 66.23 million as of July 2025 — a steady rise from 64.83 million recorded in January.
According to the latest figures, this reflects an increase of 1.4 million new enrollees within six months, representing a 2.15% growth. The BVN, an 11-digit biometric identity number, is mandatory for operating any bank account in Nigeria, serving as a safeguard against identity theft and unauthorised access.
Despite the growth in BVN enrollment, the number still pales in comparison to the total number of bank accounts in the country. As of the first quarter of 2025, NIBSS reported 320.05 million active accounts — a significant jump from 311.6 million at the end of 2024. This means that over 8.4 million new accounts were either opened or reactivated between January and March alone.
Efforts are also underway to simplify banking access for Nigerians in the diaspora. On May 13, the Central Bank of Nigeria (CBN), in collaboration with NIBSS, launched the Non-Resident Bank Verification Number (NRBVN) platform — a digital solution enabling Nigerians living abroad to remotely obtain a BVN.
This innovation eliminates the need for physical visits to banks in Nigeria, a major hurdle previously faced by non-resident citizens.
CBN Governor Olayemi Cardoso had earlier disclosed that another BVN platform tailored specifically for diaspora Nigerians would go live by December 2025. The aim is to allow them to manage their local accounts, resolve Know-Your-Customer (KYC) issues, and conduct business from anywhere in the world.
Further complementing these reforms, on January 10, the CBN introduced two special account types — the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA). These accounts are designed to help Nigerians abroad repatriate earnings and manage their funds in both naira and foreign currencies.
