The Central Financial institution of Nigeria (CBN) has debunked stories suggesting that the Financial institution Verification Quantity (BVN) issued by the Financial institution in collaboration with the Nigeria Inter-Financial institution Settlement System (NIBSS) expires after a 10-year interval….CONTINUE READING
The financial institution in an announcement issued by Isa AbdulMumin, the Performing Director, Company Communications, on Wednesday, stated opposite to those claims, the BVN issued in Nigeria has no expiry date.
The financial institution stated “As soon as a buyer’s biometrics have been captured and enrolled within the database of NIBSS,
the BVN stays for all times.
Nevertheless, the Regulatory Framework for BVN issued by the CBN in 2021 stipulates that prospects can solely change their information as a result of sure situations spelt out within the doc and after being cleared by related authorities.
“Subsequently, we urge financial institution prospects within the nation, particularly these whose biometrics have
been captured by the system, to proceed utilizing their distinctive identifiers as they final their complete
lifetime….CONTINUE READING