Over 57m Nigerians have enrolled for BVN – CBN

The Central Bank of Nigeria (CBN) has revealed that over 57 million citizens have enrolled for their bank verification numbers (BVN) as at March 31, 2023.Information Guide Nigeria

According to THE CABLE, this represents a 5 percent increase compared to the 54.65 million BVNs enrolled in the first half of 2022.

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This was disclosed by the CBN governor, Godwin Emefiele at the 34th seminar for finance correspondents and business editors in Calabar on Tuesday.

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While speaking on the challenges of the apex bank and key policies introduced to make payments faster, the governor said the CBN has also continued to collaborate with relevant stakeholders in the adoption of payment system instruments and channels.NYSC Portal

Emefiele stated that said some of the channels introduced are the bank verification number (BVN), real-time gross settlement system (RTGS), regulatory sandbox, open banking, and the CBN digital currency (CBDC), the eNaira.

He said, “The payment system regulation and management role of the CBN is very critical in the achievement of its primary mandate of price and monetary stability conducive for inclusive and sustainable economic growth.”

THE CABLE reports that he further stated, “It is also important for ensuring a stable, safe, and efficient financial system in Nigeria.JAMB Result

“Cognisance of the implications of the risks that accompany digital innovations and technological advancement globally, the CBN has continued to ensure a healthy balance between the adoption of latest innovations and development of reliable mitigants to the associated inherent and operational risks to both the payments system and the rest of the economic sectors in Nigeria.”

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