The Central Bank of Nigeria (CBN) has asked Nigerians to disregard reports and viral videos on social media 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.
The Director, Corporate Communications department of the apex bank, Dr Isa AbdulMumin, in a statement on Wednesday asked anxious Nigerians to relax as the BVN issued in Nigeria has no expiry date.
“Once a customer’s biometrics has 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.
“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”, he stated.
