(BVN. Photo by punch Newspaper)
Dr. Olalekan Olasiyan, the Regional Head of Biometrics for West Africa at Identy.io, has expressed concern over Nigeria’s identity gap, cautioning that despite rising enrollment in the Bank Verification Number program, millions of Nigerians are still not part of the nation’s digital identification ecosystem.
Olasiyan reported on Wednesday that BVN registrations increased by 6.8% year over year, from 63.5 million in 2024 to 67.8 million as of December 2025.
He did point out, though, that the numbers still do not fully represent Nigeria’s adult population, leaving a sizable portion of the population—especially in rural and informal sectors—unidentified.
“Millions of Nigerians remain outside the identity net, limiting their access to financial services and digital opportunities, despite the steady increase in BVN enrollment,” he said in a statement he personally signed.
Olasiyan emphasized that while verified digital identification is still essential to financial inclusion, service delivery, and economic participation, the gap presents a significant obstacle to Nigeria’s goal of developing a strong digital economy.
“The ability to uniquely identify individuals and residents is critical to the success of any digital economy. Without it, fraud thrives, financial inclusion stagnates, and unequal access to services persists,” he continued.
The expert emphasized how Nigeria’s financial system is affected by inadequate identity coverage, citing an increase in fraud losses through digital channels. Industry data shows that fraud losses increased to ₦52.26 billion in 2024 before falling to ₦25.85 billion in 2025 as a result of advancements in data standards and identity verification.
Olasiyan said, These numbers unequivocally demonstrate how expensive fraud is but also that stronger identity systems can significantly reduce these risks when effectively implemented.”
He called for urgent efforts to expand Nigeria’s identity infrastructure to underserved populations, including rural communities, women, and persons with disabilities, noting that exclusion from identity systems directly translates to exclusion from economic opportunities.
Beyond financial services, Olasiyan said identity gaps also affect public service delivery, including access to healthcare, social interventions, and government programmes.
Nigeria’s Digital Public Infrastructure, anchored on the National Identification Number, has so far captured over 121 million residents.
Reaching the remaining population, particularly those in low-connectivity areas, is still crucial, he emphasized.
He stated, “Identity systems need to be inclusive as well as safe. “The promise of digital transformation cannot be fully realized if millions continue to be excluded.”
Olasiyan highlighted developments from Identy.io and emphasized the need for more secure, privacy-preserving, and interoperable identification systems. He clarified that the company’s contactless, on-device biometric authentication technology lessens the risk of data breaches by enabling identity verification without storing private information in centralized databases.
He claims that these solutions complement Nigeria’s shift to the Modular Open Source Identity Platform (MOSIP), which is being carried out by the National Identity Management Commission with assistance from the World Bank’s $430 million ID4D program, and are in line with international standards.
“Secure authentication mechanisms that safeguard citizens and institutions are essential for a digital economy to flourish,” he stated.
He added that implementing contemporary biometric technology might lower fraud, boost confidence in digital platforms, and allow financial institutions to offer services to groups that were previously shut out.
Additionally, Olasiyan emphasized the significance of offline and broadly accessible smartphone technology, especially in rural areas where connectivity is still a problem.
“Solutions that are not only secure but also accessible to people regardless of location or connectivity are needed to bridge Nigeria’s identity gap,” he continued.
In a more general sense, Nigeria has become one of Africa’s top digital economies thanks to the quick development of fintech, mobile adoption, and digital services. However, experts caution that these benefits can be unequal and unsustainable in the absence of a complete and inclusive identity system.
Olasiyan came to the conclusion that minimizing fraud, boosting public confidence, and realizing the full potential of Nigeria’s digital economy all depend on eliminating the identification gap.
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