The total number of registered Bank Verification Numbers (BVNs) in the country during the period under review rose to 56.5 million. This, according to the NIBSS shows a significant increase compared to 51.7 million registered BVNs registered as of December 2021.
However, the NIBSS observed that the 2022 figure indicated a slowdown in the BVN database growth compared with 2021 when the database had increased by six million from 45.7 million in December 2020 to 51.7 million.
NIBSS said active bank accounts in the country stood at. While data of active bank accounts for 2022 are yet to be released, the NIBSS said the figure is expected to be higher than 133.5 million of the preceding year, which shows that there is still a wide gap between the registered BVN and the number of bank accounts.
