Following the Federal Government‘s directive that everyone should enrol for the National Identification Number NIN, and linked it with their SIM cards, Dr Isa Pantami, who is The Minister of Communications and Digital Economy has revealed plans to replace Bank Verification Numbers (BVN) with (NIN).
He revealed this, following an inspection of the ongoing NIN enrolment exercise at NIMC in some approved centers in Abuja.
According to reports, he has presented the proposal to the National Economic Sustainability Committee and has drawn the attention of the Central Bank of Nigeria’s Governor on the need to replace BVN with NIN. He made it known that the BVN is a regulator’s policy, while NIN is a law.
He explained that the BVN was only available to those who have a bank account, while NIN was for all citizens.
Stressing it furthermore, Pantami said the “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“.
He revealed that, “That is why we came up with the Nigeria Data Protection Regulation that we always enforce and this is applicable to the database at our disposal. 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”.