The total number of Bank Verification Numbers (BVN) so far issued by concerned financial service institutions in Nigeria has climbed to 29,336,269 as of June 10, 2017, says a new report.
This is disclosed in the latest update on BVN by the Nigerian custodian of the banking industry, the Nigerian Inter-Bank Settlement System (NIBSS).
While the issued BVN stands at the figure, latest data released by NIBSS for February shows that the total number of customers’ bank account that have been linked to the unique identification number is 51.722 million.
In previous years, record shows that linked accounts in the same period of 2015 stood at 2.71 million, and in 2016 at 31.115 million.
But that number can rise astronomically very soon as a result the recent directive by the Central Bank of Nigeria (CBN), mandating Other Financial Institutions (OFIs) to also commence BVN registration exercise for their customers.