Banks in the country have successfully linked 38 million accounts with the Bank Verification Numbers, according to the Central Bank of Nigeria.
As part of its financial inclusion drive, the CBN said it was targeting 100 million BVNs in the next five years.
According to the CBN, “In order to ease the constraint poor identification has on the availability of credit to prospective banking customers, the CBN will support an aggressive enrolment of prospective banking customers in the informal sector onto the BVN system.
“The current enrolment of 38 million unique banking customers will be expanded to 100 million over the next five years.
“Ongoing partnership with the National Identity Management Commission will also enable integration between the two databases.
Source: Punch Newspaper.
