CBN Clarifies Issues on BVN Expiry Date
Following a trending video alerting Nigerians to the need to revalidate their BVN after 10 years of issuance, the Central Bank of Nigeria has said that the Bank Verification Number it issues in collaboration with Nigeria Inter-Bank Settlement System does not have an expiry date.
This was revealed by the apex bank in a document signed by its Acting Director, Corporate Communication, Isa AbdulMumin, on Wednesday night.
“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, however, said based on “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 CBN urged bank customers to be wary of unverified news from questionable sources.
“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,” it said.
