NIMC: Federal government says BVN will soon be replaced with NIN.

The Federal government of Nigeria has announced plans concerning replacing Bank Verification Numbers (BVN) with National Identity Number (NIN).

The minister of communication and digital economy, Isa Pantami said that President Buhari has been briefed about the ongoing NIN Registrations in the country, The Nation reports.

According to Isa, the president was satisfied about the conduct of the NIN Registration process in the country.

He further said that he had a meeting with National Economic Sustainability Committee headed by the vice-president of Nigeria, Yemi Osinbajo where they discussed about replacing BVN with NIN in the country.

Explaining why such decision should be taken in the country, Isa explained that while BVN is only for account holders, NIN is for all Nigerians regardless of their status.

Isa 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 the 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.”