The Central Bank of Nigeria (CBN) has said that the Bank Verification Number (BVN) issued by the Bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) has no expiry date.
The bank spoke against the backdrop claims 8n a viral video that the BVN expires after a 10-year period.
A statement issued by the CBN’s Acting Director, Corporate Communications, Dr. Isa AbdulMumin, said “contrary to these claims, we wish to clarify that the BVN issued in Nigeria has no expiry date.
“Once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life”
He said that the Regulatory Framework for BVN issued by the CBN in 2021 stipulated that customers could only change their records due to certain conditions spelt out in the document and after being cleared by relevant authorities.
The CBN urged bank customers in the country, especially those whose biometrics had
been captured by the system, to continue using their unique identifiers as they last their entire lifetime.
