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Bank Verification Numbers tied to fraud surged to 13,117 in 2025, reflecting improved monitoring effortsNigeria’s consumer credit market saw its first annual decline since 2019 amid high borrowing costsBVN registrations grew to 67.82 million, highlighting improved financial inclusion in Nigeria’s banking system
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s banking sector has intensified its fight against financial fraud, with the number of Bank Verification Numbers (BVNs) linked to fraudulent activities surging to 13,117 in 2025.
The latest figures, released by the Central Bank of Nigeria (CBN) in its 2025 Annual Report and Statement of Accounts, show that commercial banks, including Access Bank, Zenith Bank, United Bank for Africa (UBA) and other financial institutions, significantly expanded fraud monitoring during the year.
Nigerian banks flag 13,117 BVNs as CBN intensifies fraud crackdown. Credit: CBNSource: Twitter
The report also revealed that Nigeria’s consumer credit market
