As of July 31, 2022, the database of Biometric Verification Numbers (BVNs) held by owners of bank accounts in the nation has grown to 55 million.
Data provided by the Nigeria Inter-Bank Settlement System (NIBSS) support this.
The NIBSS statistics for May 29, 2022 indicated that there were 54.7 million records in the BVN database.
This indicates that over the past two months, around 300,000 registrations were made (June and July).
According to the data, 3.3 million new BVN registrations have been reported so far this year, with an estimated 51.7 million by the end of 2022.
Meanwhile, NIBSS data showed that active bank accounts in the country stood at 133.5 million as of December 2021. While there may be multiple accounts linked to a single BVN, industry analysts said there is still a gap between bank accounts and BVN registrations, which must be filled.