Does BVN Have Expiry Date? CBN Answers

The Central Bank of Nigeria (CBN) has cleared the air on the question if the Bank Verification Number (BVN) issued in Nigeria actually has an expiry date or not.

Its Acting Director, Corporate Communications, Alhaji Isa Abdulmumin, gave the position of the apex bank on the big question in a statement on Wednesday.

Abdulmumin said that the claim was completely false and therefore advised bank customers to be guided, accordingly.

“The attention of the Central Bank of Nigeria has been drawn to reports suggesting that the Bank Verification Number issued by the Bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) expires after a ten-year period.

“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.

“However, 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.

“Therefore, we urge bank customers in the country, especially those whose biometrics have been captured by the system, to continue using their unique identifiers as they last their entire lifetime,” he said.

NAN reports that the BVN is an 11-digit number that acts as an individual’s universal ID in all banks in Nigeria.
It ensures a customer can engage securely in transactions at any Point of Banking operations.

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