Nigeria’s Bank Verification Number (BVN) database has increased to 69.55 million as of July 5, 2026, according to the latest figures released by the Nigeria Inter-Bank Settlement System (NIBSS).
BVN
The data showed that the BVN database rose from 69.32 million recorded in June 2026, representing an increase of 228,947 enrolments within the period.
The figures also indicated that the database has expanded by about 1.75 million since Dec. 31, 2025, when total BVN enrolments stood at 67.8 million.
The Bank Verification Number is an 11-digit biometric identification system introduced by the Central Bank of Nigeria (CBN) and managed by NIBSS to strengthen identity verification, secure customer accounts and curb fraud in the banking system.
Despite the growth, the latest data suggests that enrolments in 2026 may fall short of the 4.3 million registrations recorded in 2025.
Analysts attribute the sharp increase recorded last year largely to the introduction of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to complete BVN enrolment remotely.
The initiative was introduced to eliminate the need for physical enrolment and promote greater participation of Nigerians living abroad in the country’s financial system.
In March 2026, the Central Bank of Nigeria announced a revised BVN regulatory framework aimed at strengthening fraud monitoring, improving identity management and enhancing the integrity of banking transactions.
The revised framework, which took effect on May 1, 2026, introduced stricter identity verification measures, including a minimum enrolment age of 18 years.
Under the new guidelines, customers are also permitted to change the telephone number linked to their BVN only once.
The framework further requires financial institutions to maintain a temporary watch-list for BVNs linked to suspected fraudulent transactions reported within the banking system.
According to the CBN, a BVN may remain on the watch-list for a maximum of 24 hours while the account holder is contacted to provide clarification regarding the suspicious transaction.
The BVN scheme was launched on Feb. 14, 2014, by the CBN in collaboration with the Bankers’ Committee, NIBSS and German biometric technology company Dermalog to provide every bank customer with a unique biometric identity across Nigeria’s banking industry.
