The Federal Government has stated arrangements are ongoing to replace the Bank Verification Numbers (BVN) with the National Identity Numbers (NIN).
The Minister of Communications and Digital Economy Dr Isa Pantami, who disclosed this to newsmen shortly after a tour of telecoms operators and NIN licensees in Abuja, said President Muhammadu Buhari has been briefed on the on-going NIN registrations.
Pantami who said the President was happy with the conducts of the exercise so far, added he had also briefed the National Economic Sustainability Committee headed by Vice President Yemi Osinbajo on the imperative of replacing BVN with NIN.
Pantami argued that while BVN was only for accounts holders with various banks, the National Identity Numbers are for all Nigerians irrespective of their status.
Responding to challenges encountered by those with the BVN data trying to upgrade with NIN data, Pantami said:” The challenge is that the BVN records may not be 100 percent the same with NIN but what is most important is that the NIN is the primary identity of each and every citizen, including legal residents.
“BVN is a policy of a bank and has not been established by law, NIN is the only mandatory number and the primary identification of our citizens and every other identification is secondary.