CBN finally speak on rumours that BVN has expiry date
The Central Bank of Nigeria (CBN) has addressed recent reports suggesting that the Bank Verification Number (BVN) has a ten-year expiry date.
In a statement released by CBN spokesperson, Dr Isa AbdulMumin, he clarified that the BVN issued in Nigeria is valid indefinitely and does not have an expiry date. He also mentioned that customers are allowed to modify their records when necessary.
AbdulMumin emphasized that the BVN is an important tool for financial transactions in Nigeria and urged the public to ignore any false information about the biometric identification system.
He further reminded the public that the BVN is tied to an individual's biometric data and is used to prevent fraud in the banking sector.
The CBN representative also mentioned that although the BVN remains valid for life, customers are only allowed to make changes to their records under certain conditions specified in the Regulatory Framework for BVN issued by the CBN in 2021.
He therefore advised bank customers in the country to continue using their unique identifiers as they are valid for their entire lifetime.