Newsonline reports that continuous registration for the Biometric Verification Number (BVN) by bank account owners in the country has pushed the BVN database to 55 million as of July 31, 2022. This is according to the data released by the Nigeria Inter-Bank Settlement System (NIBSS).
As of May 29, 2022, NIBSS data showed that the BVN database stood at 54.7 million. This means that about 300,000 registrations were recorded in the last two months (June and July). The data also shows that a total of 3.3 million new BVN registrations have been recorded so far this year, judging by 51.7 million recorded by December-end 2022.
Meanwhile, NIBSS data showed that active bank accounts in the country stood at 133.5 million as of December 2021. While there may be multiple accounts linked to a single BVN, industry analysts said there is still a gap between bank accounts and BVN registrations, which must be filled.
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