THE Central Bank of Nigeria (CBN) says any bank verification number (BVN) officially issued in Nigeria has no expiry date, debunking reports by some section of the media of expiry status for the number.
The CBN, in a clarification statement issued on May 10 and signed by its Acting Director, Corporate Communications, Isa AbdulMumin, noted that its attention had been drawn to reports suggesting that the (BVN) it issued in collaboration with the Nigerian Inter-Bank Settlement System (NIBSS) expires after a 10-year period.
“Contrary to these claims, we wish to clarify that the BVN issued in Nigeria has no expiry date,” the CBN said.
The apex bank also emphasised that once a customer’s biometrics had been captured and enrolled in the database of the NIBSS, the BVN remains for life.
Notably, the CBN, in its regulatory framework for the BVN that it issued in 2021, stipulated that bank customers can only change their records due to certain conditions spelt out in the document, and after being cleared by the relevant authorities.
The apex bank further urged bank customers in the country, especially those whose biometrics had been captured by the system, to continue using their unique identifiers, which it stressed would last their entire lifetime.