The Central Bank of Nigeria has debuk claims that the Bank Verification Number (BVN) expires, but assures that BVN does not have an expiry date.
CBN revealed this, in a statement signed by Acting Director, Corporate Communication, Isa AbdulMumin, on Wednesday night, May 10.
This came following a viral video of a man who claimed the BVN will expire by 2023 adding that Nigerians should prepare to go for another registration by 2024.
To clear the Air, CBN said, "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," this is according to the statement.
"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," its added.
The CBN urged bank customers to be wary of unverified news from questionable sources.
"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," it said
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