BVN: Banks register 2.4m customers in 196 days

Lenders in Nigeria registered a total number of 2.4million customers for the Bank Verification Number (BVN) project between January and July 15 this year, New Telegraph has learnt.

An analysis of the latest data obtained from the Nigeria Interbank Settlement System (NIBSS) shows that while the total number of bank customers issued BVN stood at 31,426,091 as at December 31, 2017, the figure had risen to 33,851,113 as at July 15, 2018.

The statistics further shows that although the number of bank customers with BVN continues to grow, it is not increasing as fast as it did in 2015 and 2016.

For instance, NIBSS figures indicate that as at September 10, 2017, a total number of 30.26 million bank customers were issued BVN as against 29.4 million issued as at June 18, 2017. Notably, however, while the total number of bank customers with BVN as at early January 2015, about a year after the Central Bank of Nigeria (CBN) directed DMBs to commence the registration exercise, stood at 2.24 million, the figure had significantly risen to 12.43 million as at June 7, 2015. Also, as at September 2015, the figure had increased to over 20 million.
New Telegraph, July 25, 2018

 

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