Nigeria’s BVN Database Grows to 67.8 Million, Fueled by Regulatory Directives

Bank Verification Number (BVN) enrollments in Nigeria achieved a significant milestone, reaching 67.8 million by December 2025. This expansion of the critical identity verification database underscores its deepening integration within the nation’s financial sector. The figure represents a substantial increase of 4.3 million registrations from the 63.5 million recorded in 2024, translating to a year-on-year growth rate of approximately 6.8%. This sustained upward trajectory highlights the ongoing adoption of biometric identification as a cornerstone of modern financial services in Nigeria.

CBN Initiatives Central to Enrollment Growth

The consistent rise in BVN enrollments throughout 2025 is closely linked to targeted policy interventions and enforcement directives from the Central Bank of Nigeria (CBN). The addition of over 4.3 million new registrations demonstrates strengthening compliance with biometric identity requirements across the banking industry. It signifies that nearly 70 million Nigerians are now formally linked to the country’s centralized banking identity infrastructure, a system designed to uniquely identify customers, reduce fraud, and enable seamless inter-bank verification.

Despite this notable progress, the total BVN count continues to lag behind the overall number of active bank accounts, which stood at over 320 million as of March 2025. This disparity indicates the prevalence of multiple accounts per BVN holder and points to remaining challenges, including unenrolled segments within the already banked population. The gap underscores the need for continued efforts to achieve universal coverage, even as other major national projects, like the Dangote Refinery dismisses certain operational challenges, focus on different sectors of the economy.

The Path Forward for Financial Identity

The BVN system remains a pivotal element of Nigeria’s financial framework. Its growth reflects both regulatory pressure and the increasing citizen adoption of digital identity tools. As the database expands, it strengthens the foundation for a more secure and inclusive financial ecosystem. The ongoing enrollment drive, championed by the CBN, complements broader national objectives for financial inclusion and integrity. Ensuring every bank customer has a BVN is as crucial for economic security as the need for leaders to urge Nigerians towards unity, especially when some politicians fuelling division for personal gain. The evolution of digital identity, from physical tokens to modern solutions, continues to shape access, much like the debate surrounding services like Cardtonic eSIM vs traditional telecom offerings shapes consumer choice. The commitment to robust identity verification is fundamental, just as authorities remain vigilant, evidenced when 2 women nabbed for related fraudulent activities face the law.

Samson Akintaro, a tech analyst with over a decade of industry experience, provided the original reporting on these figures.