BVN Has No Expiry Date – CBN Says
The Central Bank of Nigeria (CBN) said on Wednesday that the bank verification number (BVN) it issued to Nigerians has no expiry date.
The apex said in a statement following reports suggesting that 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”, the apex bank assured the citizens.
It said once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life.
The CBN said 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.
“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”, the regulator said.
The Central Bank of Nigeria (CBN) said on Wednesday that the bank verification number (BVN) it issued to Nigerians has no expiry date.
The apex said in a statement following reports suggesting that 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”, the apex bank assured the citizens.
It said once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life.
The CBN said 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.
“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”, the regulator # BVN Has No Expiry Date – CBN Says#
