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BVN Has No Expiry Date, Valid For Lifetime — CBN - The Revealer
Banking and Finance

BVN Has No Expiry Date, Valid For Lifetime — CBN

 The Central Bank of Nigeria (CBN), has clarified that the Bank Verification Number, BVN, has no expiry date, saying it valid for a lifetime.

CBN’s spokesman of the Apex Bank,  Dr. Isa AbdulMumin, made the clarification in a statement last night.

He was reacting to media reports that the BVN expires after 10 years.

“The attention of the CBN has been drawn to reports suggesting that the 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.

“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.

“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. “Be guided accordingly,” he advised.

 

Edet Udoh

We are The Revealer, a general online news platform based in Nigeria. Our focus amongst others is to provide credible, factual, well researched and balanced news and articles for our teeming readers in business, governments, politics, engineering, science, religion, technology etc. Edet Udoh is the Managing Editor. He is an experienced media person. He has worked extensively with the Champion Newspapers, The Authority Newspapers and the Blueprint Newspaper before starting Revealer Online News platform in 2018. He can be reached with this email address: edetudoh2003@gmail.com or via these phone numbers 08061246427 and 08170080488

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