BVN has no expiring date, says Central Bank of Nigeria

By allcitynews.ng

The leadership of Regulatory Bank, Central Bank of Nigeria [CBN] has denied the news circulating around over Bank Verification Number [BVN] expiration.

Just as bank reiterated that the alleged 10 years life span for BVN has no iota of truth in it.

The apex bank revealed this in a document signed by its Acting Director, Corporate Communication, Isa AbdulMumin.

“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.”

It 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 bank implores all bank users across the country, especially those whose biometrics have been captured by the system, to continue using their unique identifiers,  adding that “they last their entire lifetime.”

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Below is the CBN statement:

“BVN Issued in Nigeria Has No Expiry Date – CBN

The attention of the Centra! Bank of Nigeria (CBN) has been drawn to reports suggesting that the Bank Verification Number (BVN) issued by the Bank in collaboration with the Nigena Inter-Bank Settiement System (NIBSS) expires after a ten-year period.

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 enrolied 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 speit out in the document and afler being cleared by relevant authontes.

Therefore, we urge bank customers in the country, especiaily those whose biometrics have been captured by the system, to continue using their unsque identfiers as they last their entire lifetime. Be guided accordingly.

Isa AbdulMumin Pro Ag. Director, Corporate Communications May 10, 2023.

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