MEET FRANK OSHANUGOR
By Frank Oshanugor
Authorities of the Central Bank of Nigeria (CBN) have debunked reports in the social media alleging that Bank Verification Number (BVN) issued in Nigeria has expiry date.
In a statement signed by the Acting Director, Corporate Communications, Dr. Isa AbdulMumin on Wednesday, Management of the apex bank said “the attention of the Central Bank of Nigeria (CBN) has been drawn to reports suggesting
that the Bank Verification Number (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.”
The CBN has therefore urged 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.