The Central Bank of Nigeria has released data on the total number of customers who have registered for the Bank Verification Number BVN as at February 7, 2016. Here is the data

• A total of 23,345,964 million bank customers had obtained their Bank Verification Numbers (BVN) as at February 7, 2016.
• Over 28,303,332 customers’ BVN, out of the existing 55,316,040 customers in all the banks in Nigeria, had been linked to their respective bank accounts.

This figure has varying meanings and use for a lot of analysts in the context of business, marketing and transactions. 23.3 million customers having a bank account basically mirrors a subset of the employed population in Nigeria including employees and employers. It also means Nigeria’s banking population as a percentage of total population is about 12%.

The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.