Millions of Nigerians Still Lack Identity Despite 67.8m BVN — Expert

By Folarin Adeyemi Aluko

Despite rising BVN enrolment, millions of Nigerians remain outside the identity system, raising concerns over financial inclusion and digital access.

Millions of Nigerians remain excluded from the country’s digital identity system despite steady growth in the Bank Verification Number (BVN) scheme, a development experts say could hinder financial inclusion and economic growth.

Dr. Olalekan Olasiyan, Regional Head of Biometrics for West Africa at Identy.io, raised the concern on Wednesday, noting that while BVN enrolment has increased to 67.8 million as of December 2025—up from 63.5 million in 2024—the figures still fall short of covering Nigeria’s adult population.

According to him, a significant number of Nigerians, particularly those in rural communities and the informal sector, remain outside the identity net, limiting their access to financial services and digital opportunities.

“Despite the steady rise in BVN enrolment, millions of Nigerians remain excluded, and this continues to restrict financial inclusion and access to essential services,” he said.

Olasiyan warned that the gap poses a serious challenge to Nigeria’s ambition of building a robust digital economy, stressing that a reliable identity system is central to economic participation, fraud prevention, and efficient service delivery.

He pointed to the impact of weak identity coverage on the financial system, revealing that fraud losses surged to ₦52.26 billion in 2024 before dropping to ₦25.85 billion in 2025, following improvements in identity verification processes.

“These figures show that while fraud remains costly, stronger identity systems can significantly reduce risks when properly implemented,” he noted.

Beyond banking, the identity gap also affects access to healthcare, government interventions, and social programmes, leaving millions underserved.

Nigeria’s broader digital identity framework, anchored on the National Identity Management Commission and the National Identification Number (NIN), has captured over 121 million residents. However, reaching underserved populations—especially in low-connectivity areas—remains a major hurdle.

Olasiyan called for more inclusive, secure, and accessible identity solutions, including technologies that can function offline and on mobile devices. He also highlighted the need for privacy-focused systems that reduce the risks of data breaches while improving trust in digital platforms.

He added that ongoing efforts, including Nigeria’s transition to a modular identity system supported by the World Bank, could help strengthen the country’s digital infrastructure if properly implemented.

As Nigeria’s digital economy continues to expand, experts warn that closing the identity gap will be critical to ensuring inclusive growth, reducing fraud, and unlocking opportunities for millions currently left behind.