BVN Enrollment increases by 3 million in May

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The enrollment for Biometric Verification Number (BVN) by Nigerians have risen by 3 million to 54.7 million in the first five months of 2022.

According to the recent data released by the Nigeria Inter Bank Settlement System (NIBSS), it was disclosed that as at May 29, 2022 , the number of enrollment rose by 5.8 percent compared with 51.7 million reported as of December 26, 2021.

The data further showed that active bank accounts in the country stood at 133.5 million as of December 2021.

BVN is a Biometric technology with secure unique identifier to analyze human characteristics as an enhanced form of authentication for real-time security processes.

The NIBSS affirmed that with BVN, customers bank accounts are protected from unauthorised access, will address issues of identity theft, thus reduce exposure to fraud, standardise efficiency of banking operations and enhance the banking industry chances of being able to fish out blacklisted customers.