Connect with us

Hi, what are you looking for?

E-Financial

BVN Issued in Nigeria has no Expiry Date – CBN

BVN

Central Bank of Nigeria (CBN) has said that Bank Verification Number (BVN), has no expiry date contrary to claims making the round.

The apex bank’s explanation came amid speculations that the BVN has a ten years lifespan.

Debunking the claims on Wednesday, Dr Isa AbdulMumin, acting director corporate communications department, CBN, said “Once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life.”

He explained that the Regulatory Framework for BVN issued by CBN in 2021 requires that customers can update their records on the conditions spelt out in the document.

According to him, Nigerians captured on BVN should not panic but continue using their unique identifiers.

In perspective, CBN, with the Nigeria Inter Bank Settlement System (NIBSS), launched the BVN project on 14th February, 2014, to capture the identity of all banks’ customers.

According to Godwin Emefiele in a recent engagement, Nigerians with BVN rose to 57 million.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

News

National Institute for Policy and Strategic Studies (NIPSS) has predicted that the price of Premium Motor Spirit (petrol) will decline as Dangote Refinery and...

News

A BBC investigation has uncovered a widespread immigration scam targeting foreign nationals seeking employment in the UK care sector, with recruitment agents, including a...

News

MTN Media Innovation Program (MIP), a six-month fully-funded certificate fellowship designed for media professionals, is redefining journalism and content creation in Nigeria. Now in...

Tech

National Identity Management Commission (NIMC) has announced a milestone achievement, with over 117 million Nigerians now enrolled for the National Identity Number (NIN) as...