BREAKING NEWS
NIBSS: Bank customers with BVN hit 30.26m
The Nigeria Inter Bank Settlement System Plc (NIBSS) said over 30,262,813 bank customers have been issued Bank Verification Number (BVN) as at September 10, 2017. NIBBS said 51.7 million total BVN accounts holders that have enrolled as at February 2017.
Data from NIBSS website, showed that as at January 2017, the number of bank customers that had obtained their BVN stood at 50.92 million
Analysts said the figure of issued BVN to bank customers is expected grew as a result of the recent extension of Other Financial Institutions (OFIs) registration by the Central Bank of Nigeria (CBN). The data showed that on monthly basis, the enrolment on BVN has continued to improve steadily.
As at January last year, 30.13 million customers had gotten their BVN, compared with the 2.24 million it was as at January 2015. Also, enrolment increased further to 31.11 million as at February last year (2.71 million as at February 2015); 32.19 million as at March last year (3.34 million as at March 2015); 33.63 million as at April 2016 (7.71 million April 2015); 35.44 million as at May last year (9.2 million as at May 2015); and 36.12 million as at June 2016 (12.49 million as at June 2015).
Furthermore, the data showed that enrolment on the BVN platform sustained its uptick as at July last year, when it climbed to 36.79 million registered bank customers (12.73 million as at July 2015); 46.39 million in August 2016 (13.74 million in same month in 2015); 47.35 million in as at September 2016 (14.58 million as at September 2015); and 48.14 million customers as at October last year. BVN enrolment was also at 49.14 million as at November last year and 49.99 million as at last December.
Meanwhile, the Federal Government has announced its decision to stop what it called proliferation and duplication of biometric-based identity systems in the country. Acting Secretary to the Government of the Federation, Mrs Habiba Lawal, stated this recently that the Federal Government established the NIMC as the primary institution charged with the responsibility of providing and regulating identity management in Nigeria, the issuance of the National Identification Number (NIN) and ID card to all registrable persons as well as the harmonisation and integration of existing identification databases in government agencies and integrating them into the National Identity Database (NIDB).
Consequently, data expected to be harmonized included the Subscriber Identification Module (SIM) card registration being handled by the Nigerian Communication Commission (NCC); Bank Verification Number (BVN); Drivers Licence from the Federal Road Safety Commission (FRSC); and voters card number among others.
Lawal said the administration of President Muhammadu Buhari expects the proliferation and duplication of biometric-based identity systems to stop as it was neither cost effective, nor security smart. “Apart from being unwieldy, the cost of operating multiple discordant databases and infrastructure is untainable,” Lawal had stated.
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