According to reports reaching oyogist.com, the Federal Government of Nigeria has initiated plans to replace the Bank Verification Numbers (BVN) with the National Identity Numbers (NIN).
This was disclosed by the Nigerian Minister of Communications and Digital Economy, Dr Isa Pantami, further stating that he discussed with the National Economic Sustainability Committee headed by Vice President Yemi Osinbajo on the imperative of replacing BVN with NIN.
Dr Pantami said;
“BVN is a policy of a bank and has not been established by law, NIN is the only mandatory number and the primary identification of our citizens and every other identification is secondary.
“The NIMC Act 2007 provides that all our citizens must be enrolled and the law gives them 60 days to enroll from the time the law was enacted and a maximum of 180 days and all permanent residents in the country and legal residents that have to stay here for a minimum of 24 months must be enrolled.
“So this is the primary identification of all and all other data bases are supposed to utilize this and not for NIN to utilize the BVN because it is the primary one.“We discussed with the CBN Governor today on how to ensure that all our citizens with BVN will immediately be provided with the NIN. We are working on that but facilitating the process lies on CBN to make it much easier for our people.”
“Also, BVN is only applicable to those who have bank accounts but NIN is for every citizen and legal residents in the country. BVN is our secondary database while NIN and the database is the primary one in the country that each and every institution should make reference to NIMC.” he said further.
