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This is Why the Federal Government is Planning on Replacing BVN with NIN

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The Federal Government of Nigeria has revealed its plans to replace Bank Verification Numbers with the National Identity Numbers, as stated by the Minister of Communications and Digital Economy Isa Pantami during a briefing of newsmen following the inspection of the ongoing NIN registration at NIMC and other registration centres in Abuja.

Pantami made it clear that while the BVN is a regulator’s policy which only applies to bank account owners, the NIN is a law for nationals and legal residents in the country, stating the “strength of the law wherever you go is not the same with a policy of one institution.”

He also said “he had made a presentation to the National Economic Sustainability Committee and drew the attention of the Central Bank of Nigeria’s Governor on the need to replace BVN with NIN, Punch reports. 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.”

“That is why we came up with the Nigeria Data Protection Regulation that we always enforce and this is applicable to the database at our disposal,” Pantami added that Nigeria has 99.9% level of security in the entire database. “We take care of it and make sure that security is excellent and we don’t allow anybody to compromise the content because it is a trust from our citizens given to us.’’

He also stated that the reason for engaging private agents for the NIN enrollment corresponded with “global standard,” asking that NIMC focuses on “regulatory work and set the standards for biometrics registration, measuring of heights, standard for data to be collected and general verification.”

13 Comments

  1. Abayomi Sangosanya

    February 9, 2021 at 2:12 pm

    They can be synchronised. There is no need to cancel one for another as foreign nationals can open account but should not be allowed to have NIN

    7
  2. Olasupo Oluwatobiloba

    February 9, 2021 at 5:38 pm

    This is a very good Idea but like what Abayomi Sangosanya said, they don’t need to cancel BVN.
    NIN will be used for Nigerians for registration in banks and foreign nationals will have to do BVN before they can have any bank accounts in Nigeria.

    4
  3. Adebanjo Shuaib

    February 10, 2021 at 6:33 am

    This is a good development,the foreigner can use BVN to opening account since is a secondary data base, while the nigerian can make use of the NIN has nationalist.

    1
  4. ADEKOYA MICHAEL OLUWATOSIN

    February 10, 2021 at 10:20 am

    I enrolled for my national id card about a month ago, I later went to bank for account upgrading but was told no record found after inputting my NIN number, later again I went to the bank and was also told error occurred again, even till now when am trying to check or retrieve my NIN number with my registered sim card it will always responded by telling me still being processing, what’s the cause?

  5. Aderemi Akinware

    February 10, 2021 at 1:21 pm

    Already if want open bank account you go with national id before you can open bank account. I don’t see any important things on he speech.

  6. Usman Abdu Abubakar

    February 10, 2021 at 1:45 pm

    Expatriates are eligible to have NIN as per as they are legally residing in Nigeria, Nin covers alot of things while BVN is only for Bank.

  7. Mary B.

    February 10, 2021 at 5:36 pm

    To me Oh! If you use the NIN to replace BVN, frudulent will be on the high side; Reason: because one can easily expose the NIN because it is the number one means of identification and one Carey’s it about everywhere he or she goes. And also, many organisations and schools do require it for certain reasons and it therefore put the person’s bank account at risk.

    2
  8. Segun Stephen Olabowale

    February 10, 2021 at 6:52 pm

    I THINK IT’S A WELCOME DEVELOPMENT BECAUSE LIKE MY SITUATION I DIDN’T REGISTER MY BVN MYSELF. I was given the code to check BVN and I saw it. I THOUGHT IT WAS AUTOMATICALLY FROM BANK ACCOUNTS. My mother later told me people registered for BVN. So I don’t know whom registered mine. I’m yet to register for NIN but booked till March.

    1
  9. Segun Stephen Olabowale

    February 10, 2021 at 7:01 pm

    So we hope the NIN is well executed and transparent. Because they’re talking of blocking SIM cards and I know fraudsters will want to take advantage. I could remember my middle name Stephen was omitted from my national identity card. Registration was when I just gained admission to study medicine at university of Ilorin Kwara state Nigeria.

  10. Dickson

    February 10, 2021 at 11:16 pm

    U people doesn’t think b4 u think,u just do anyhow bcs if to say u suffering b4 u b come a person,u should not suffering us bcs of this NiN,I live my work for a gud wk b4 I can do it, now u ae sayings is not useful again,u people suppose to watch yr brain b4 give d country a big problem again idiot

  11. Sharu

    February 11, 2021 at 6:34 am

    #pantami bring back our sim reg.
    We can not kidnapped, kill,still,
    This is where millions of Nigerians make a living

  12. Nura salisu

    February 11, 2021 at 8:03 am

    As a result of what replaced bvn with nin number we are not need because out 3% does not have national id card,by processes for replacement you can a lot of problems conjunction of people, insecurity, poor government policy, poor arrangement so we need leave this issue.

  13. Oreoluwa

    February 11, 2021 at 9:10 pm

    This Minister he’s cute tho🥰

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