back to top

BVN issued in Nigeria does not expire – CBN

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.

    Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here


    Support the ICIR

    We need your support to produce excellent journalism at all times.

    -Advertisement-

    Recent

    - Advertisement