The Regional Head of Biometrics for West Africa at Identy.io, Dr Olalekan Olasiyan, has expressed concern over Nigeria’s widening identity gap, warning that millions of citizens remain outside the country’s digital identity system despite rising enrolment in the Bank Verification Number scheme.
Olasiyan stated on Wednesday that BVN registrations increased to 67.8 million as of December 2025, up from 63.5 million in 2024, representing a 6.8 per cent year-on-year growth.
However, he pointed out that the figure still does not cover Nigeria’s adult population, leaving many people—especially those in rural areas and the informal sector—without proper identification.
“Despite the steady rise in BVN enrolment, millions of Nigerians remain outside the identity net, limiting their access to financial services and digital opportunities,” he said in a statement he personally signed.
He noted that the gap poses a serious challenge to Nigeria’s goal of building a strong digital economy, as reliable identity systems are key to financial inclusion, service delivery, and economic participation.
“The strength of any digital economy hinges on the ability to uniquely identify citizens and residents. Without this, financial inclusion stalls, fraud flourishes, and access to services remains uneven,” he added.
The expert also highlighted the impact of weak identity coverage on the financial system, citing rising fraud losses across digital platforms. Industry data showed fraud losses rose to ₦52.26 billion in 2024 before dropping to ₦25.85 billion in 2025 due to improvements in identity verification and data standards.
“These figures clearly show that fraud is costly, but also that stronger identity systems can significantly reduce these risks when effectively implemented,” Olasiyan said.
He called for urgent expansion of identity infrastructure to reach underserved groups, including rural dwellers, women, and persons with disabilities, stressing that exclusion from identity systems limits access to economic opportunities.
Beyond finance, he said identity gaps also affect access to public services such as healthcare, social programmes, and government interventions.
Nigeria’s Digital Public Infrastructure, built around the National Identification Number, has registered over 121 million residents so far.
However, he emphasised that capturing the remaining population, particularly those in areas with limited connectivity, remains essential.
“Identity systems must not only be secure but also inclusive. If millions remain excluded, the promise of digital transformation cannot be fully realised,” he said.
Olasiyan stressed the need for more secure, privacy-focused, and interoperable identity solutions, pointing to innovations from Identy.io. He explained that the company’s contactless, on-device biometric authentication allows identity verification without storing sensitive data in central databases, reducing the risk of data breaches.
According to him, such innovations align with global standards and support Nigeria’s shift to the Modular Open Source Identity Platform, being implemented by the National Identity Management Commission with support from the World Bank’s $430 million ID4D programme.
“A digital economy cannot thrive without secure authentication mechanisms that protect both institutions and citizens,” he said.
He added that adopting advanced biometric technologies could help curb fraud, build trust in digital systems, and expand access to financial services for previously excluded populations.
Olasiyan also stressed the importance of solutions that can function offline and on widely available smartphones, especially in rural areas where internet access is limited.
“Bridging Nigeria’s identity gap requires solutions that are not only secure but also accessible to people regardless of location or connectivity,” he added.
Providing broader context, Nigeria has become one of Africa’s leading digital economies, driven by growth in fintech, mobile usage, and digital services. However, experts warn that without an inclusive identity system, these gains may remain uneven and unsustainable.
Olasiyan concluded that closing the identity gap is crucial for reducing fraud, strengthening public trust, and unlocking the full potential of Nigeria’s digital economy.