BVN DOES NOT EXPIRE – CBN ASSURES NIGERIANS

May 11, 2023

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By ‘Leke Yusuf

The Central Bank of Nigeria (CBN) on Wednesday assured Nigerians that the Bank Verification Number (BVN) issued by the Bank in collaboration with the Nigerian InterBank Settlement System (NIBSS) does not expire.

In recent days, there have been social media posts and videos suggesting that the BVN of ba k customers expire after ten years.

In a statement made available to Hotjist.com and signed by CBN’s, Acting Director of Corporate Communications, Isa AbdulMumin; he 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, it remains for life”.

He noted that the regulatory framework 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 statement then urged Bank customers in Nigeria, “especially those whose biometrics have been captured in the system, to continue using their unique identifiers as they last their entire lifetime.”