The Central of Nigeria (CBN) has said all Bank Verification Number (BVN) issues in Nigeria has no expiry date.
The CBN was was reacting to reports suggesting that the Bank Verification Number (BVN) issued by the Bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) expires after a ten-year period.
Dr. Isa AbdulMumin Ag. Director, Corporate Communications said in a statement that contrary to these claims, “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. However, 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.”
“Therefore, we urge 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” The statement indicated.