BVN Enrolment Crosses 70 Million as CBN Tightens Verification Rules

Nigeria's Bank Verification Number database has passed 70 million enrolments, with data from the Nigeria Inter-Bank Settlement System (NIBSS) putting the total at 70,347,047 as of September 28, 2026.

The milestone comes as the Central Bank of Nigeria and commercial banks tighten biometric verification to check fraud, SIM-swap attacks, phishing and identity theft.

How the database grew

The BVN system was introduced by the CBN in 2014 and is administered by NIBSS. It has become a core part of Nigeria's financial identity infrastructure.

Available figures show enrolments stood at about 51.9 million in 2021, rising to 63.5 million in 2024 and 67.8 million by the end of 2025. The database kept expanding in 2026, reaching 68.6 million in March, 69.55 million in July and about 69.97 million in late August before crossing the 70 million mark in September.

The growth reflects heavier use of biometric identification in banking, as passwords and PINs come under pressure from phishing, SIM-swap attacks and social engineering. NIBSS has also flagged the growing sophistication of fraud techniques, including the use of artificial intelligence and deepfake technology.

What the 2026 rules say

The CBN introduced stricter BVN-related measures in 2026 to close loopholes fraudsters could exploit. From May 1, BVN enrolment was restricted to people aged 18 and above. Customers were also limited to one phone-number change linked to their BVN records. A temporary 24-hour fraud watchlist mechanism was introduced for suspicious transactions.

Under the revised framework, banks and payment service providers are expected to run real-time liveness checks and verify new or reactivated accounts against BVN or National Identification Number (NIN) databases. Access to BVN information has been restricted to CBN-licensed financial institutions.

The system links a customer's unique physical characteristics, including fingerprints and facial features, to their banking records. That makes it harder for criminals to impersonate customers, open duplicate accounts or move money with stolen identities.

What it means for bank customers

With more than 70 million enrolments, the BVN is now central to account opening, transactions and other banking activity. Lenders and payment providers can lean on it to spot suspicious activity and strengthen controls against identity fraud.

For customers, the trade-off is tighter rules on phone-number changes and account reactivation. Expect more liveness checks and database matching before new or dormant accounts become active.