By 
The Nigeria Inter-Bank Settlement System (NIBSS) has reported that the number of active bank accounts in the country rose to 320 million as of March 2025, reflecting significant progress in Nigeria’s financial inclusion drive.
The latest data marks a notable increase from 2024 figures and underscores the growing adoption of digital banking platforms, mobile accounts, and fintech solutions across various segments of the population, particularly the youth and informal economy.
According to NIBSS, the figure represents both traditional and digital banking accounts that remained consistently active during the period, highlighting improved engagement with financial services by individuals and businesses alike.
Industry analysts attribute the growth to a convergence of factors, including regulatory reforms, widespread mobile phone penetration, expansion of agent banking networks, and aggressive customer acquisition campaigns by commercial banks and fintech providers.
Despite the positive trajectory, experts caution that the numbers may not fully reflect financial depth, raising concerns about account dormancy, duplication across institutions, and the gap between registered accounts and financially active users.
Commenting on the trend, financial experts stressed the need for robust reforms to ensure that increased account ownership translates into meaningful financial inclusion and economic participation.
The Central Bank of Nigeria (CBN), as part of its National Financial Inclusion Strategy, has continued to push for a shift from cash-based transactions to digital financial services, aligning with broader economic transformation goals.
With the new milestone, Nigeria now ranks among the African countries with the highest volume of bank accounts, presenting both opportunities and challenges for regulators, banks, and financial technology operators working to deepen access and usage.
Comments