Minister of Communications and Digital Economy, Isa Pantami, has disclosed that the Federal Government is planning to replace the Bank Verification Number (BVN) regime with the National Identity Number (NIN).
The Minister who added further that the BVN remains a regulator’s policy, while NIN is a law, said this during a supervisory visit to some NIN enrolment licensed partners in Abuja, added that to that end, he has made a presentation to the National Economic Sustainability Committee as well as to the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, on the need to embark on the replacement.
“The strength of the law wherever you go is not the same with a policy of one institution.
“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.
“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.’’
The minister further noted that BVN was only applicable to those who had bank accounts while NIN was for every citizen and legal resident in the country,” Pantami said.
Giving reasons the government engaged private agents for the NIN enrolment, the minister said the move was in line with the global standard, as he tasked the Nigerian Identity Management Commission (NIMC) to focus on regulatory work and set the standards for biometrics registration, measuring of heights, standard for data to be collected and general verification.