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According to data released by the Nigeria Inter-Bank Settlement System (NIBSS), Nigerian banks have recorded a total of 4.8 million new Bank Verification Numbers (BVNs) in 2022.
This brought the total number of registered BVNs in the country to 56.5 million.
As of December 2021, the BVN database stood at 51.7 million, which shows a slowdown in the BVN database growth compared with 2021 when the database had increased by 6 million from 45.7 million in December 2020 to 51.7 million.
According to NIBSS, active bank accounts in the country stood at 133.5 million as of December 2021.
The Bank Verification Number (BVN) is an 11-digit unique identity for each individual across the Nigerian Banking industry.
The BVN ensures one can engage securely in transactions at any Point of Banking operations in Nigeria
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