The Central Bank of Nigeria (CBN) has debunked rumors circulating that the Bank Verification Number (BVN) has an expiration date.
The BVN, which is issued by the CBN in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has no expiry date, according to the CBN.
The Acting Director of the Corporate Communications Department of the CBN, Dr. Isa Abdulmumin, clarified that once a customer’s biometrics have been captured and enrolled in the NIBSS database, the BVN remains valid for life.
However, the CBN’s Regulatory Framework for BVN, issued in 2021, allows customers to change their records only under certain conditions and after being cleared by relevant authorities.
The CBN urges bank customers in Nigeria, especially those whose biometrics have been captured by the system, to continue using their unique identifiers as they last their entire lifetime.
Article updated 3 days ago. Content is written and modified by multiple authors.
