A Federal High Court in Abuja will deliver judgment on July 4, 2025, on the legality of NIBSS’ management of Nigeria’s BVN database under the CBN Act and other financial laws.
The Federal High Court in Abuja has fixed July 4, 2025, for judgment on a suit determining whether the Nigeria Inter-Bank Settlement System Plc (NIBSS) is legally empowered to manage the Bank Verification Number (BVN) database under the Central Bank of Nigeria (CBN) Act and other relevant banking regulations.
Justice James Omotosho fixed the date after listening to arguments from NIBSS’ counsel, Babatunde Ige, and the CBN’s counsel, Kofo Abdulsalam-Alada. The NIBSS is seeking judicial affirmation of its statutory role in maintaining the BVN database and an injunction restraining any group or individual from challenging its authority.
In court filings, Ige argued that NIBSS’ management of the BVN is not only authorized by law but also essential for safeguarding Nigeria’s financial system. He cited the CBN Act of 2007, the Banks and Other Financial Institutions Act of 2020, and the Revised Regulatory Framework for BVN Operations (2021) as legal backbones for the BVN framework.
According to NIBSS, its operations are constitutionally justified and do not infringe on citizens’ right to privacy. The body accused the Digital Rights Lawyers Initiative of repeatedly challenging its mandate and filed for a perpetual injunction to bar future legal contests over its role.
The ruling on this high-profile case could have significant implications for Nigeria’s digital banking infrastructure and data governance framework.
