Contrary to the false rumors spreading that the Bank Verification Number (BVN) issued by the Bank in conjunction with the Nigeria Inter-Bank Settlement System (NIBSS) would expire after ten years, the Central Bank of Nigeria (CBN) has made it clear that the BVN has no expiration date.
We want to make it clear that the BVN issued in Nigeria has no expiration date, in contrast to these claims.
The apex Bank’s acting director of corporate communications, Dr. Isa Abdulmumin, stated in a statement that once a customer’s biometrics have been taken and registered in the NIBSS database, the BVN is permanent. But according to the CBN’s Regulatory Framework for BVN, which was published in 2021, customers can only change their records under specific circumstances that are outlined in the document and after receiving approval from the appropriate authorities.
“Because of this, we implore all bank customers in the nation—especially those whose biometrics have been recorded by the system—to continue using their special identifications so long as they last.Be led appropriately.
