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Home Economy BVN issued in Nigeria has no expiry date ― CBN
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BVN issued in Nigeria has no expiry date ― CBN

By
Prnigeria
-
May 10, 2023
CBN
CBN

BVN issued in Nigeria has no expiry date ― CBN

The Central Bank of Nigeria (CBN) has reiterated that Bank Verification Number (BVN) issued in Nigeria has no expiry date.

The bank made this clarification in reaction to reports suggesting that the Bank Verification Number issued by the Bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) expires after a ten-year period.

A statement signed by Isa AbdulMumin, Ag. Director, Corporate Communications CBN on Wednesday noted that contrary to these claims, “we wish to clarify that the BVN issued in Nigeria has no expiry date.

Read Also:

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  • FG Says Shea Export Suspension Will Create Jobs, Spur Investment
  • Nigeria, US to Expand Air-Ground Integration for Safer Counterterrorism Operations

“Once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life,” it stated.

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,” the CBN assured.

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NUPENG Suspends Strike After Truce With FG, Labour, Oil StakeholdersFG Says Shea Export Suspension Will Create Jobs, Spur InvestmentNigeria, US to Expand Air-Ground Integration for Safer Counterterrorism OperationsKwara Police Release 48 Suspects After Finding No Criminal LinksNorthern Youth Coalition Defends Senator Buba, Condemns Smear CampaignsNSCDC Moves to Arrest Killers of 8 Operatives in Edo, Deploys Special SquadsUNODC, ONSA Push Open Source Intelligence to Combat CybercrimeTroops Rescue 5 Kidnap Victims, Repel Multiple Bandit Attacks in KatsinaSecurity Forces Foil Robbery Attack on Abuja–Kaduna Highway, Enhance Patrol Along Rail LineAU, Nigeria Sign MoU to Bolster Counter-Terrorism EffortsKaduna-Abuja Railway: An Urgent Call for Improved Maintenance and Security Compliance By Samuel AruwanThe Human Factor: IPRA President Addresses AI's Role in PRNigeria, African Union Sign MoU on Intelligence Sharing, CounterterrorismNiger Delta Operations: Troops Arrest 35, Recover Arms and Stolen OilMarwa, A Man of Uncommon Grace at 72 By Femi Babafemi
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