Tag: BVN

Plans Underway to Replace BVN with NIN – FG
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Plans Underway to Replace BVN with NIN – FG

Dr Isa Pantami, the Minister of Communications and Digital Economy has said the Federal Government plans to phaseout Bank Verification Numbers, NIN, and replace it with National Identity Numbers. Pantami disclosed this while interacting with reporters after taking a tour and inspecting the ongoing NIN enrolment exercise at NIMC and other designated centres in Abuja. The minister stated that he had presented it 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. He said the BVN is a regulator’s policy, while NIN is a law. He said, “The strength of the law wherever you go is not the same with a policy of one institution.’’ According to the minister, the BVN was only applicable t...