The Nigeria Inter-Bank Settlement System NIBSS has disclosed that Bank Verification Number BVN enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria CBN and the expansion of diaspora enrolment initiatives. According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.
NIBSS noted that the expansion reinforces the BVN system's central role in Nigeria's financial inclusion drive and digital identity framework. Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number NIN, which took effect from April 2024. The policy compelled many customers to regularise their biometric records to retain access to banking services.
