By Our Reporter
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.
Recall that a video which claimed that the BVN expires after a 10-year period had gone viral on socual media.
A statement issued by the CBN’s Acting Director, Corporate Communications, Dr. Isa AbdulMumin and made available to NATIONAL WAVES 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 added that the Regulatory Framework for BVN issued by the CBN in
2021 stipulates that customers can 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 have
been captured by the system, to continue using their unique identifiers as they last their entire lifetime.