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FAKE NEWS ALERT: No Expiry Date for BVN, Valid for Lifetime – CBN
The Central Bank of Nigeria (CBN) yesterday clarified that the Bank Verification Number (BVN) issued by the bank in collaboration with the Nigeria Inter Bank Settlement System (NIBSS) and has no expiry date.
The central bank’s explanation came against the backdrop of misleading reports in a viral video suggesting that the BVN would expire after a 10- year period.
However, in a statement yesterday, CBN acting Director, Corporate Communications Department, Dr. Isa AbdulMumin, said “Once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life.”
AbdulMumin, further clarified that 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 apex bank, therefore, urged customers in the country, especially those whose biometrics had been captured by the system, to continue using their unique identifiers as they last their entire lifetime.
The apex bank in collaboration with the Bankers’ Committee, deployed a centralised Bank Verification Number (BVN) System in February 2014.
This was part of the overall strategy of ensuring effectiveness of Know Your Customer (KYC) principles, and promotion of safe, reliable and efficient payments system.
The BVN system gives each customer in the Nigerian banking industry, a unique identifier number.
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Okonjo-Iweala Says Nigerian Economy now stable under Tinubu
“The reforms have been in the right direction. The next step is growth, and alongside that, building social safety nets so those feeling the pinch of reforms can get support.”
THE Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, declared that President Bola Tinubu and his team have worked hard to stabilize the economy.
“You cannot really improve an economy unless it’s stable,” said Okonjo-Iweala during a meeting today with President Tinubu at the Presidential Villa, Abuja.
“The reforms have been in the right direction. The next step is growth, and alongside that, building social safety nets so those feeling the pinch of reforms can get support,” she said.
She added that growth, job creation, and income expansion must go hand-in-hand with measures to cushion the impact of ongoing reforms on vulnerable Nigerians.
A tragic incident has rocked the community of Amaifeke in Orlu Local Government Area of Imo State, where a 39-year-old man, Ifeanyi Odinka, allegedly stabbed his 75-year-old father, Dennis Odinka, to death following a dispute over proceeds from a land sale.
Confirming the incident, the Imo State Police Command said Ifeanyi was arrested by operatives from the Orlu Division on August 12, 2025. According to police spokesperson ASP Henry Okoye, the suspect confessed to the crime during interrogation.
“He was immediately transferred to the State Criminal Investigation Department in Owerri for further investigation and prosecution,” Okoye stated.
The gruesome killing has left residents in shock, with community members describing the incident as deeply disturbing and calling for justice to take its course.
The police have assured the public that the suspect will face the full weight of the law. They also reiterated their commitment to maintaining law and order across the state, urging residents to report any suspicious activity to the authorities.
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Obasanjo’s Library Ready to Face EFCC in Court over Invasion
The Managing Director of the OOPL, Mr Vitalis Ortese, at a press conference in Abeokuta, said that the Anti – graft commission invasion was an assault on all what the presidential library stood for.
The management of Olusegun Obasanjo Presidential Library (OOPL) has given the Economic and Financial Crime Commission, EFCC a seven-day ultimatum to apologize of face legal action.
The Managing Director of the OOPL, Mr Vitalis Ortese, at a press conference in Abeokuta, said that the Anti – graft commission invasion was an assault on all what the presidential library stood for.
He demanded for a N3.5 billion compensation for the victims and the presidential library where the former president, Olusegun Obasanjo resides.
The legal Adviser of OOPL, Olumide Ayeni while showing the media evidence, including bullet shells and EFCC beret, said the presidential library is ready to face the anti graft in court, if it fails to yield to their demands.
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