BVN Enrolments in Nigeria Reach 69.9 Million Amid New Rules

As of August 23, 2026, Nigeria's Bank Verification Number (BVN) database has recorded 69,972,475 enrolments, nearing the 70 million mark, according to the Nigeria Inter-Bank Settlement System (NIBSS). Enrolments increased by 183,282 from August 3 to August 23, a significant rise from the previous week's 63,336 additions.

The BVN scheme, initiated by the Central Bank of Nigeria (CBN) and managed by NIBSS, connects biometric data to bank records, enhancing identity verification and fraud detection. The CBN has recently implemented new rules regarding the modification or replacement of phone numbers linked to BVNs, which has raised alarms from the Digicivic Initiative.

The group expressed concerns that these restrictions could hinder access for customers who change phone numbers or lose access to SIM cards tied to their BVNs, potentially leading to financial exclusion. Additionally, the CBN has updated regulations to restrict BVN enrolment to individuals aged 18 and above, disallowing minors from obtaining a BVN independently.