CBN: BVNs Linked to Suspected Fraud Rise 38% to 13,117 in 2025

The Central Bank of Nigeria says BVNs linked to suspected fraud rose by 38.4% in 2025, with 13,117 BVNs placed on the banking industry’s fraud watchlist, up from 9,476 in 2024. Banks added 3,641 new BVNs during the year as they strengthened transaction monitoring and compliance systems. The CBN said the increase does not necessarily mean fraud has risen. It said banks are becoming more proactive in identifying suspicious activity, blocking risky transactions and improving customer records. BVNs linked to deceased persons on the watchlist also increased from 21,118 to 28,754. The report also showed that consumer lending fell by 19.89% to ₦3.78 trillion in 2025, largely because high interest rates made borrowing more expensive. Meanwhile, registered BVNs grew to 67.82 million, while more bank accounts were linked to BVNs as financial institutions expanded compliance and fraud-prevention measures.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.