The Federal Government has said 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, explained that he had made a presentation to the National Economic Sustainability Committee and drew the attention of Central Bank of Nigeria (CBN) Governor, that we need to replace BVN with NIN because the BVN is a bank policy, while NIN is a law because it has been established by law. He noted that, ‘‘the strength of the law wherever you go is not the same with a policy of one institution." "BVN is only applicable to those who have bank account but NIN is for every citizen and legal residents in the country," the Minister noted.
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