Will Continue Using BVN Number ~ CBN The central bank of Nigeria, CBN, said that the issue of BVN bank identification number is still v...
Will Continue Using BVN Number ~ CBN
The central bank of Nigeria, CBN, said that the issue of BVN bank identification number is still valid and will not be suspended as a newspaper published.
The acting director of communication of the central bank Alh. Isa Abdulmumin said this in a statement on Wednesday.
Abdulmumini explained that the claims published in the newspaper are not true, and advised banks to be careful.
"The attention of the Central Bank of Nigeria, CBN, has been drawn to a report that the BVN bank identification number given to bank account holders under the partnership between the CBN and NIBSS will cease to function after 10 years"
"This issue is not true, and clarifying to the community that BVN will not stop working"
"Every time the information of the bank account holder is taken and entered into the NIBSS data collection software, the BVN number will remain in the software for life"
The News Agency of Nigeria reports that the BVN number is one of 11 numbers that serve as an identifier for individuals in all banks in Nigeria.
It ensures that every account holder conducts banking transactions safely wherever he is.
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