The figure represents an increase of 754,128 registrations in the first quarter of the year, compared to 4.3 million recorded across 2025, indicating a slowdown in new enrolments.

Analysts attribute last year’s growth largely to the Non-Resident BVN initiative, which enabled Nigerians in the diaspora to register remotely.

Despite the increase, a significant gap remains between BVN registrations and the more than 320 million active bank accounts in the country, suggesting that many accounts may still be unlinked.

The development comes as the Central Bank of Nigeria introduced stricter BVN regulations, including limiting enrolment to individuals aged 18 and above and restricting changes to registered phone numbers.

The new framework also requires banks to place BVNs linked to suspicious transactions on a temporary watch-list for up to 24 hours while investigations are conducted.

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The figure represents an increase of more than 4.3 million registrations from 63.5 million in 2024, reflecting continued growth in the country’s biometric identity database.

NIBSS data shows steady annual growth over the past five years, rising from 51.9 million in 2021 to 67.8 million in 2025, a year-on-year increase of about 6.8 percent.

The expansion has been driven by policy measures from the Central Bank of Nigeria, including directives to freeze bank accounts without BVN and National Identification Number (NIN) from April 2024. The rollout of the Non-Resident BVN initiative has also enabled Nigerians in the diaspora to enrol remotely.

Analysts say the growing BVN database strengthens fraud prevention, improves KYC and anti-money laundering compliance, and supports financial inclusion. However, the number still trails Nigeria’s more than 320 million active bank accounts, highlighting continued challenges around unenrolled customers and multiple accounts per individual.

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By Shuaib S. Agaka

Just weeks ago, national alarm bells rang over the dangers of SIM recycling—where inactive mobile numbers are reassigned without proper verification, sometimes leading to unauthorized access to bank accounts and sensitive platforms. Now, with the Economic and Financial Crimes Commission (EFCC) revealing that thousands of Nigerian youths are trading Bank Verification Numbers (BVNs) and National Identification Numbers (NINs), a far more disturbing pattern is taking shape: Nigeria’s digital identity infrastructure is dangerously compromised.

The implications are staggering. The country’s cybersecurity framework, already riddled with loopholes, is now showing deeper fractures. Trust—the bedrock of any digital system—is evaporating fast. Ironically, while palliatives are now scarce and heavily guarded, Nigerians’ personal data floats freely across black markets and rogue platforms. The very act of surrendering biometric and personal details to the state—under promises of security and service delivery—has become the gateway to exploitation.

Nigeria’s digital identity architecture is built on three core pillars: the NIN managed by the National Identity Management Commission (NIMC), the BVN under the Central Bank of Nigeria (CBN), and the SIM-NIN linkage enforced by the Nigerian Communications Commission (NCC). Together, these systems were intended to unify identity verification, enhance financial inclusion, curb fraud, and support digital governance.

In theory, it’s a sound framework. In practice, however, it’s falling apart.

Corruption and insider leaks have created cracks in what should be secure systems. Reports show that agents and insiders at registration centers and financial institutions are illicitly selling registered NINs, BVNs, and even biometric data. The EFCC’s findings that over 12,000 youths were caught selling their identities is only the visible tip of a deeper and more institutionalized rot. The black market for digital identities is supplied not just by desperate youth—but also by compromised insiders working within supposedly secure government and financial agencies.

Verification protocols, the first line of defense, are routinely sidestepped. At many third-party registration centers, biometric authentication is either skipped or falsified with fake inputs. Some SIM registration agents reuse previously registered identities to meet sales quotas. These practices undermine the system’s reliability and leave Nigerians exposed to fraud and criminal impersonation.

Even worse is the fragmentation across Nigeria’s digital identity ecosystem. Different institutions—NIMC, CBN, NCC, and the Nigeria Data Protection Commission (NDPC)—operate in silos, with inconsistent standards and little interoperability. Data isn’t cross-verified in real time, allowing fraud to slip through blind spots between disconnected databases. This dysfunction not only causes inefficiencies but also creates a breeding ground for identity theft, digital loan fraud, and money laundering through online platforms.

Regulatory enforcement is another weak link. While multiple agencies issue guidelines, few conduct rigorous, coordinated audits or impose timely sanctions. Telecoms, fintech startups, and even banks suffer minimal consequences for lapses in data security—even after public breaches. Regulatory response is usually reactive—coming only after scandals break, long after victims have been exploited and criminals have vanished.

The result is a thriving underground economy of stolen identities. Unlike traditional cyberattacks that hack into databases, modern fraudsters simply purchase valid identity profiles and walk through the front doors of banks and digital platforms. They use stolen data to access quick loans, launder money, or hijack social media and financial accounts. Many victims only learn they’ve been compromised when loan default messages arrive or when they are flagged for crimes they didn’t commit. Meanwhile, perpetrators operate anonymously, using basic smartphones and internet access to inflict national-scale damage.

What’s most chilling is the normalization of this digital exploitation. Among tech-savvy but jobless youth, identity theft has become just another hustle. It’s a symptom of a larger socioeconomic failure—one where trust in institutions is low, opportunity is scarce, and crime has become enterprise.

Yet amid this chaos, the root problem lies not just with the fraudsters or fintech firms but with the government itself. It mandated mass biometric registration—under NIN, BVN, and SIM linkages—without building a secure, unified system to safeguard the data. Citizens were made to trust a system that lacks the capacity and accountability to protect them.

There are, however, glimmers of hope. The National Information Technology Development Agency (NITDA) recently convened Nigeria’s first National Cybersecurity Conference, gathering key stakeholders from government, tech, and law enforcement. It was a promising step toward a more coordinated national cybersecurity policy. But symbolic events must now translate into structural reforms.

First, Nigeria must establish a unified digital identity oversight mechanism to harmonize data security standards across NIMC, CBN, NCC, and NDPC. Real-time interoperability and data-sharing protocols must be enforced. Second, all telecoms, fintechs, and banks should undergo mandatory cybersecurity compliance audits. Institutions found to mishandle user data should face stiff penalties, including license suspensions or financial sanctions. Third, a national public education campaign must be launched to raise awareness about digital identity theft and promote cyber hygiene at the grassroots.

Ultimately, Nigeria’s digital future will not be secured by technology alone. It will be secured by building trust—trust that personal data will be respected, identities protected, and breaches punished. Until then, Nigeria’s digital economy remains a house built on shaky foundations, where the trade of identities is more seamless than access to palliatives, and fraudsters are more empowered than the citizens they exploit.

Shuaib S. Agaka is a tech journalist based in Kano State

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This disclosure was made in a statement issued by the Commission on Friday, warning of a growing syndicate of young Nigerians exploiting citizens’ personal data to perpetuate online fraud.

According to the EFCC, the perpetrators offer unsuspecting individuals as little as ₦1,500 to ₦2,000 in exchange for sensitive identity documents, including NIN registration slips, BVNs, passport photographs, and other forms of identification. The data is then sold to fintech platforms for around ₦5,000 and used to open accounts that facilitate investment scams and other fraudulent financial activities.

“These canvassers call themselves ‘Account Suppliers’ or ‘KYC Group’,” the Commission stated. “They operate nationwide, targeting people willing to part with their information for a small fee.”

The EFCC said the fraudulent accounts created using these credentials are used to bypass Know-Your-Customer (KYC) protocols on fintech platforms, effectively turning them into tools for laundering proceeds from internet fraud and other cybercrimes.

The Commission noted that investigations are ongoing to identify the full scale of the operation and bring the perpetrators and their collaborators to justice.

This development raises fresh concerns over data privacy, digital onboarding processes, and regulatory oversight in Nigeria’s booming fintech sector.

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Bank Verification Number (BVN) enrollments in Nigeria have surged to 63.4 million as of September 2024, according to the latest data released by the Nigeria Inter-Bank Settlement System (NIBSS).

This reflects a significant increase from the 62.7 million recorded in July 2024, with 750,048 new registrations in the last two months.NIBSS data further reveals that since December 2023, when BVN enrollments stood at 60 million, the database has grown by 3.4 million in 2024.

The increase in BVN registration is likely a result of the Central Bank of Nigeria’s (CBN) directive in December 2023, which mandated that all bank accounts not linked to a BVN be frozen by April 2024.

The CBN’s directive also requires commercial, merchant, non-interest, payment service banks, other financial institutions, and mobile money operators to ensure that all accounts and wallets are linked to either a BVN or a National Identification Number (NIN).

Despite the growth in BVN registrations, a significant gap remains between the number of registered BVNs and active bank accounts in the country.

NIBSS reported 231.1 million active bank accounts as of July 2024, far outpacing the 63.4 million BVNs currently registered. However, experts suggest the disparity may not be as large as it appears, as multiple accounts can be linked to a single BVN.

According to the Enhancing Financial Innovation and Access (EFInA) 2023 survey, about 5% (3 million) of banked adults in Nigeria do not have either a BVN or a NIN, highlighting the ongoing need for compliance with the CBN’s regulations.

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The Federal Government has officially designated the Nigeria Inter-Bank Settlement System (NIBSS), the Bank Verification Number (BVN), and the National Identification Number (NIN) databases as Critical National Information Infrastructure (CNII).

This designation is part of the newly released ‘Designation and Protection of Critical National Information Infrastructure Order, 2024’, which was recently signed by President Bola Tinubu.The inclusion of these databases under the CNII status signifies that any attack or tampering with these infrastructures is now considered a criminal offense, subject to prosecution.

The gazetted order also extends this protection to other key electronic payment gateways and the Treasury Single Account (TSA) database, emphasizing the importance of safeguarding these systems from any form of interference.

The objective of this Presidential Order, as outlined in the gazette, is to ensure the protection and uninterrupted functioning of vital ICT systems, networks, and infrastructure.

These are deemed essential for driving national development, ensuring economic stability, maintaining national security and defense, and supporting public health, safety, and government operations.

Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, hailed the gazette’s release as a significant milestone. He noted that the designation of all telecommunications infrastructure in the country as CNII is particularly important.

This measure is expected to enhance the quality of telecom services by curbing disruptions caused by intentional damage to critical infrastructure.

“This gazette now makes it an offense to wilfully damage assets such as telco towers/sites, switch stations, data centres, satellite infrastructure, submarine & fibre optic cables, transmission equipment, e-government platforms, databases among many others,” Tijani stated.

For years, stakeholders in Nigeria’s ICT sector have urged the government to classify telecom infrastructure as a critical national asset to combat persistent attacks.

In March, the Chairman of the Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, reiterated this call after Nigeria experienced an internet outage due to damage to fibre optic cables.Telecom operators have faced significant challenges in this regard.

In 2023, MTN Nigeria reported over 6,000 cuts to its fibre cables and relocated 2,500 kilometers of vulnerable cables at a cost exceeding N11 billion.

Similarly, Carl Cruz, CEO of Airtel Nigeria, revealed that the company has been recording an average of 1,000 fibre cuts each month.The new CNII designation aims to address these challenges by ensuring stronger legal protection for critical ICT infrastructure across Nigeria.

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NIMC Identifies Websites Harvesting Nigerians’ Data Illegally

The National Identity Management Commission (NIMC) has flagged five websites accused of harvesting Nigerians’ data fraudulently.

This development follows a recent alert by Paradigm Initiative about websites allegedly selling sensitive data, including National Identification Number (NIN), Bank Verification Number (BVN), and International Passport information.

In a statement issued on Saturday, NIMC’s Head of Corporate Communications, Kayode Adegoke, urged the public to avoid engaging with these websites and to be cautious about sharing personal information.

“NIMC urges the public to disregard any claims or services these websites offer and should not give their data as they are potentially fraudulent. Data provided by the public on such websites are gathered and stored to build the data services they illegally provide,” the statement read.

Contrary to claims by Paradigm Initiative, NIMC assured Nigerians that their sensitive data has not been compromised.

The Commission emphasized that it has implemented measures to further strengthen the NIN database.

“At this moment, the Commission assures the public that the data of Nigerians has not been compromised. The Commission has not authorized any website or entity to sell or misuse the National Identification Number (NIN) or other identities stated in the report,” Adegoke added.

The Commission highlighted its commitment to safeguarding the national database against cyber threats, maintaining that its infrastructure complies with the ISO 27001:2013 Information Security Management System Standard.

This compliance is reaffirmed through annual recertifications and adherence to the Nigerian Data Protection Law.

NIMC also advised Nigerians to be cautious of unauthorized and phishing sites, which pose significant risks of data harvesting and potential misuse.

The Commission reiterated its dedication to ethical data protection practices, in line with federal government directives and data privacy regulations.

Further, NIMC is collaborating with security agencies to identify and prosecute individuals posing as online vendors involved in illegal activities.

“NIMC urges the public to remain vigilant against false information and rely on verified sources for accurate updates. The Commission remains committed to providing secure and reliable identity management and upholding the highest level of security for systems and databases, which are critical national assets,” the statement concluded.

The Commission reassured Nigerians of its continued efforts to ensure the security and integrity of their personal data, urging them to stay informed through official channels.

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Paradigm Initiative, a Pan-African social enterprise, has sounded the alarm over the discovery of a website selling sensitive personal data of Nigerians, including National Identification Numbers (NIN) and Bank Verification Numbers (BVN), for as little as N100.

According to Paradigm Initiative, the website AnyVerify.com.ng is involved in the commercial distribution of private data, claiming to offer services that verify identities using NIN, BVN, International Passport, Driving License, Voter’s Card, and more.

A visit to the site by Nairametrics confirmed these claims, indicating the site has access to various government databases.

“This alarming development presents a major breach of the fundamental rights to privacy, a breach of data privacy rights, and poses significant risks to individuals and the national economy,” Paradigm Initiative said in a statement.

The organization emphasized that the unauthorized access and sale of personal data could lead to identity theft, financial fraud, and other malicious activities, putting millions of Nigerians at risk.

In response to this serious breach, Paradigm Initiative, through its legal partners Vindich Legal, has served a pre-action notice to several government agencies.

These include the National Identity Management Commission (NIMC), Nigeria Data Protection Commission (NDPC), Nigeria Immigration Service (NIS), Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN), Independent National Electoral Commission (INEC), Federal Road Safety Corps (FRSC), and the office of the Attorney General of the Federation (AGF).

The organization highlighted the severe implications of this data breach, warning that it could undermine the stability of Nigeria’s banking system and compromise national security.

The unauthorized dissemination of driver’s license information and other personal data could be exploited by criminal elements for unlawful activities, posing a threat to public safety.Paradigm Initiative stressed the urgent need for robust data protection laws and stringent enforcement mechanisms to safeguard citizens’ data.

“Fraudulent transactions and identity theft can erode public trust in financial institutions, potentially leading to a financial crisis,” the organization stated, noting the recent findings of significant losses suffered by Nigerian financial institutions due to digital manipulation.

The discovery of these unauthorized websites underscores significant gaps in data protection and cybersecurity measures in Nigeria. Paradigm Initiative is calling for immediate action to address these vulnerabilities and protect the personal data of Nigerian citizens from exploitation and abuse.

Source: Nairametrics

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The digital age has revolutionized financial transactions, making online payments an integral part of everyday commerce. However, this convenience has also exposed users to various cybersecurity threats, including identity theft, payment fraud, data breaches, and ransomware attacks. As digital financial services continue to expand, organizations like the National Information Technology Development Agency (NITDA) and the National Identity Management Commission (NIMC) play a crucial role in enhancing cybersecurity measures.

NITDA and NIMC are working together to establish and enforce robust cybersecurity standards and best practices within the online payment ecosystem. These standards include data encryption protocols, secure authentication mechanisms, access controls, incident response procedures, and regular security audits to identify and mitigate vulnerabilities proactively.

Encryption protocols are a critical component of secure online transactions, ensuring data confidentiality and integrity across digital channels. Implementing strong encryption standards like AES (Advanced Encryption Standard) with key lengths of 256 bits safeguards against interception and tampering attempts.

In addition to encryption protocols, NITDA and NIMC are promoting cybersecurity awareness and education among stakeholders through workshops, seminars, and training programs. These initiatives empower businesses and individuals with the knowledge and skills needed to recognize and respond to cyber threats effectively.

NITDA’s Cybersecurity Guidelines for Internet Services Providers (ISPs) and NIMC’s Biometric Verification Number (BVN) system are notable initiatives aimed at strengthening cybersecurity in online transactions. The guidelines outline the security measures ISPs must implement to protect user data and ensure the integrity of online communications, including financial transactions. The BVN system assigns a unique biometric identifier to bank customers, reducing the risk of unauthorized access and fraudulent activities in online banking and payment processes.

Integrating biometric data into authentication processes strengthens identity verification, mitigates risks associated with password vulnerabilities, and enhances user experience in online transactions. Adopting end-to-end encryption (E2EE) ensures that data remains encrypted throughout its entire journey, from the sender to the recipient, without being decrypted at intermediate points vulnerable to interception.

Multi-Factor Authentication (MFA) emerges as a critical authentication method to bolster online security by requiring users to provide multiple forms of verification before accessing accounts or initiating transactions. Implementing advanced threat detection and prevention systems, such as Intrusion Detection Systems (IDS), Intrusion Prevention Systems (IPS), and behavioral analytics, is crucial in identifying and mitigating cyber threats in real-time.

Comprehensive data protection strategies encompass data encryption at rest and in transit, access controls, data masking, and regular data backups to mitigate risks associated with data breaches and unauthorized access. Conducting regular cybersecurity audits, vulnerability assessments, and penetration testing exercises helps identify and remediate security gaps, weaknesses, and misconfigurations in online payment systems.

Educating stakeholders about cybersecurity risks, best practices, and incident reporting protocols is paramount in building a cyber-resilient environment. Implementing secure software development practices, such as secure coding standards, code reviews, and vulnerability assessments during the development lifecycle, mitigates risks associated with software vulnerabilities and exploitable weaknesses.

Adopting a zero-trust security model, which assumes zero trust for both external and internal network traffic, mandates continuous authentication, authorization, and verification for every user and device accessing online systems or data. Zero-trust limits lateral movement by malicious actors in the event of a breach.

As the digital landscape evolves, cybersecurity regulations will also evolve, necessitating ongoing compliance efforts, regulatory alignment, and proactive adherence to cybersecurity best practices. NITDA and NIMC’s engagement with regulatory bodies ensures that cybersecurity measures align with industry standards, legal requirements, and customer expectations for data privacy and security.

In conclusion, collaboration, innovation, and proactive cybersecurity measures are essential in ensuring safe, reliable, and trustworthy digital financial services. By staying vigilant, embracing technological advancements responsibly, fostering collaboration across sectors, and prioritizing cybersecurity awareness, NITDA, NIMC, and stakeholders can collectively navigate the complexities of cybersecurity in online transactions and uphold the integrity of Nigeria’s digital economy.

Shuaib S. Agaka, a tech journalist writes from Kano

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No fewer than 2.47 Nigerians have registered for Bank Verification Number in the last six months, data from the Nigeria Inter-Bank Settlement System has shown.

The latest figures, released by NIBSS on Saturday, indicated that the BVN count stood at 61.16 million as of March 2024.

Comparing this with the BVN count reported in December 2023, which stood at 59.9 million revealed that 674,280 new registrations were recorded within three months.

Data from September 2023 showed that the number of registered BVNs was 58.7 million, indicating that from September to March, NIBSS recorded 2,466,384 new BVN registrations.

The surge in BVN registrations highlights the growing importance of financial inclusion and regulatory compliance in Nigeria’s banking sector.

On February 14, 2014, the Central Bank of Nigeria introduced the BVN to safeguard bank customers, mitigate fraud, and bolster the Nigerian banking system’s resilience.

In December, the CBN announced its intention to freeze accounts with a BVN, or National Identification Number (NIN), starting April this year.

It also mandated that all BVNs or NINs linked to accounts or wallets be electronically revalidated by January 31, 2024.

Since the issuance of this directive by the apex bank, deposit money banks have been actively utilising their communication platforms to urge customers to update their NIN and BVN details.

In a circular, the apex bank instructed lenders to place a “Post no Debit” restriction – which prevents customers from making withdrawals, transfers, or any other debits “for all existing Tier-1 accounts/wallets without BVN or NIN”.

‘Post No Debit’ is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from such accounts.

“Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied. Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted,” it stated.

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