The Central Bank of Nigeria (CBN) has denied media reports that the Bank Verification Number (BVN) it issued to Nigerians has an expiry date.

Naija News reports that the apex bank was reacting to a report which claimed that the BVN issued in collaboration with Nigeria Inter-Bank Settlement System (NIBSS) to bank customers expires after 10 years.

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But in a statement on Wednesday, the Acting Director, Corporate Communication of the apex bank, Isa Abdulmumin, said the BVN issued does not have an expiry date.

Abdulmumin asserted that once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life.

The statement reads: “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.”

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“The Regulatory Framework for BVN issued by the CBN in 2021 stipulates that customers can only change their records due to certain conditions spelled out in the document and after being cleared by relevant authorities. 

"The bank, therefore, implores all bank users across 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.”

NAIJANEWS