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BVN Does Not Expire – CBN Refutes Viral Video | READ DETAILS

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BVN Does Not Expire – CBN Refutes Viral Video | READ DETAILS

The Central Bank of Nigeria (CBN), has described as fake news, a viral video alleging that the Bank Verification Number (BVN) issued by financial institutions in Nigeria expires after ten years.

Reacting to the viral video, the CBN in a statement signed by Isa AbdulMumin, Acting Director, Corporate Communications, said the BVN remains eternal once a customer’s biometrics have been captured and enrolled in the database of the Nigeria Inter-Bank Settlement System (NIBSS).

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“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” the statement added.

READ THE FULL STATEMENT BELOW:

 

 

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