NIN TO Replace BVN, Says Minister Of Communications
The Minister of Communications and Digital Economy, Dr Isa Pantami has said the Bank Verification Numbers (BVN) should be replaced with the National Identification Numbers (NIN).
Speaking during a facility tour of telecoms operators and NIN registration centres on Monday, Dr Isa Pantami explained that he briefed the National Economic Sustainability Committee, headed by Vice President Yemi Osinbajo on the imperative of replacing BVN with NIN.
Dr Pantami argued that while BVN was only for account holders with various banks, the NIN is for all Nigerians, irrespective of their status.
“We need to replace BVN with our NIN number,” Dr Pantami said. “The reason is very clear. BVN is a CBN policy, while the National Identification Number is established by law. So the strength of the law, wherever you go, is not the same with the policy of only one institution.
“Secondly, BVN is only applicable to only those who have bank accounts but National Identity Number is for each and every citizen and legal resident in the country.
“Thirdly, BVN is a secondary database, while National Identification Number and the database is the primary one in the country that each and every institution should make reference to NIMC.”