CBN Responds To Scammers’ Behavior, BVN Doesn’t Expire

It has been made abundantly clear by the Central Bank of Nigeria (CBN) that the Bank Verification Number (BVN) that was issued by the Bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) does not have an expiration date. This is in contrast to the bogus news that has been going around claiming that it would expire after a period of ten years.
“We would like to make it clear that contrary to these claims, the BVN that is issued in Nigeria does not have an expiration date.”
Once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN is maintained for the customer’s entire life, according to a statement released by the Acting Director of the Corporate Communications Department of the apex Bank, Dr. Isa Abdulmumin. “However, 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. This means that customers can only change their records if they meet both of these requirements.
“Therefore, we strongly encourage customers of banks throughout the country, particularly those whose biometrics have already been stored in the system, to continue making use of their one-of-a-kind identifiers because these credentials are good for the rest of their lives.Follow the directions given to you.”