The Central Bank of Nigeria has denied reports claiming that bank verification numbers (BVN) expire after 10 years.
According to a statement on Wednesday by its Acting Director, Corporate Communications, Isa AbdulMumin, CBN stated that details captured during the BVN exercise are permanent, although the CBN provides for the modification of records.
Part of the press statement reads: “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.”
