The Nigeria Inter-Bank Settlement System has revealed that database for the Continuous registration for the Bank Verification Number has risen to 56 million as of November 20, 2022.
According to Nairametrics, the NIBSS data showed that the BVN database had 55 million users as of July 31, 2022. This translates to a million new registrations in the last four months.
According to the data, 4.3 million new BVN registrations have been recorded so far this year, with a total of 51.7 million expected by December 31, 2021.
As of December 2021, NIBSS data indicated that the number of active bank accounts in the country was 133.5 million. Even though multiple accounts may be linked to a single BVN, analysts say there is still a gap between bank accounts and BVN registrations that needs to be filled.
