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From about 83.2m individual bank accounts, only 29.9m captured in BVN—NIBSS

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Indications have emerged that more is still needed to be done in creating awareness for the mandatory Bank Verification Numbers (BVN) exercise.

This stemmed from the latest revelation of the Managing Director of Nigerian Inter Bank Settlement Services (NIBSS), Adebisi Shonubi, who disclosed that out of about 83.2 million individual bank accounts, 29.89 million customers have successfully registered their BVN.

Explaining more at the Kantar TNS Fintech Summit in Lagos, Shonubi averred that as at 5pm on Monday this week, NIBSS recorded 29, 895,852 Nigerians with verified bank account numbers.

According to him, contrary to various figures flying around about the number of accounts Nigerians have in commercial banks, NIBSS can authoritatively say that individual bank accounts in Nigeria are 83.2 million, out of which half of the phone numbers are for bank customers.

He noted that the number of registered mobile lines in Nigeria stood at 150 million, out of which individual users are 74.4 million and registered emails with BVN number were 10.8 million.

While revealing further that out of the 2.1 million registered shareholders, 433,000 are unique individuals, and data at NIBSS showed that few people actually operated in the capital market.


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