Uyai-Abasi Etido
The Central Bank of Nigeria, CBN has stated that the Bank Verification Number, BVN issued in Nigeria has no expiry date.
The Apex Bank made this clarification in a press release signed by Ag. Director, Corporate Communications, Isa Abulmumin following reports suggesting that BVN issued by bank in collaboration with the Nigeria Inter-bank Settlement System(NIBSS) expires after ten years.
According to Abulmumin, once a customer’s biometrics have been captured and enrolled in the Nigeria Inter-Bank Settlement System (NIBSS) database, the BVN remains for life.
The statement read in parts, “…Contrary to this 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…”
However, the CBN has urged bank customers in the country, especially those whose biometric has been captured by the system, to continue using their unique identifiers and be guided as they lasts their entire life time.
