Nigeria, Jan. 21 -- The number of Bank Verification Numbers (BVNs) issued in Nigeria climbed to 64.8 million as of January 2025, according to the Nigeria Inter-Bank Settlement System (NIBSS).

This marks a steady rise from 63.5 million in 2024 and 60.1 million in 2023, reflecting the growing adoption of the BVN system introduced to strengthen financial security and transparency.

The BVN is a unique eleven-digits identification number assigned to individuals with bank accounts to enhance security and reduce fraud.

Introduced by the Central Bank of Nigeria in 2014, it links all an individual's bank accounts across different banks and uses biometric data for verification.

Since 2021, when BVN enrolments stood at 51.9 million, the initiati...