The Central Bank of Nigeria (CBN) has reacted to News making the rounds on the internet with claims that the BVN issued in Nigeria expires in ten years.
In a Press Statement signed by the Director, Corporate Communications Alhaji Isa AbdulMumin, the CBN stated clearly that such claims are false.
”The attention of the Central Bank of Nigeria (CBN) has been drawn 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.
”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.
”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.
He further explained that 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. ”
