Millions of Nigerians Lack Identity Despite BVN Growth

Dr. Olalekan Olasiyan, the region head for Biometric West Africa, expressed concern over Nigeria's identity gap, noting that despite the rise in Bank Verification Number (BVN) registrations to 67.8 million by December 2025 from 63.5 million in 2024, a significant number of citizens, particularly in rural areas, remain unregistered. This lack of identification limits access to financial services and digital opportunities, posing a major challenge to Nigeria's ambition to build a robust digital economy.

Olasiyan highlighted that the gap in identity coverage contributes to increased fraud, with losses rising to $52.26 billion in 2024. He called for urgent efforts to expand Nigeria's identity infrastructure, particularly for underserved populations, including rural communities and persons with disabilities.

The article emphasizes that a secure and inclusive identity system is essential for unlocking Nigeria's digital economy potential and reducing fraud.