The Central Bank of Nigeria has clarified that the Bank Verification Numbers that are issued in collaboration with the Nigeria Inter-Bank Settlement System have no expiry date.
Team@orientactualmags.com learned the CBN made this clarification in a document signed by its Acting Director, Corporate Communication, Isa AbdulMumin on Wednesday night.
The apex bank had done this in reaction to media reports claiming that the BVN issued in Nigeria would expire after 10 years.
‘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’ the statement said.
The CBN added that 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 apex bank implores all bank users across the country, especially those whose biometrics have been captured by the system, to continue using their unique identifiers, adding that ‘they last their entire lifetime’- Team@orientactualmags.com
Do you have any information you wish to share with us? Do you want us to cover your event or programme? Kindly send SMS to 08059100286, 09094171980. Thank you
