CBN mulls 100m BVN-linked accounts in five years

The Central Bank of Nigeria has pledged to increase the figures of bank customers enrolled on the Bank Verification Number system from over 40 million to 100 million in the next five years.

The BVN project, which captures the uniqueness of every bank customer, is one of the most-innovative projects introduced into the Nigerian financial system in 2014. This, he said, would enable such grassroots’ customers, mainly the poor, conduct minimal financial services and reduce financial exclusion rate.

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