The Central Bank of Nigeria (CBN) has clarified that the Bank Verification Number (BVN) it issues in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) does not have an expiry date.

In a statement released by the CBN’s Acting Director of Corporate Communication, Isa AbdulMumin, on Wednesday night, the apex bank emphasized that the notion of BVN expiration after 10 years is incorrect.

The CBN affirmed that once a customer’s biometrics have been captured and enrolled in the NIBSS database, the BVN remains valid for a lifetime.

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The bank also highlighted that the Regulatory Framework for BVN, issued by the CBN in 2021, outlines specific conditions under which customers can update their records, subject to clearance by relevant authorities.

The CBN advised bank customers to exercise caution and be wary of unsubstantiated news from unreliable sources.

It urged customers, particularly those whose biometrics have been captured, to continue using their unique identifiers throughout their lifetime.

The statement was issued in response to a viral video circulating on WhatsApp, which erroneously claimed that Nigerians would need to revalidate their BVNs after 10 years of issuance.