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Femi Olukoya
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2026-03-14 03:50:45
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CBN Limits BVN Phone Number Updates to Once-in-a-Lifetime to Curb Fraud
The Central Bank of Nigeria (CBN) has introduced a new rule restricting how often Nigerians can update the phone number linked to their Bank Verification Number (BVN)—now limited to just once in a lifetime. The directive, communicated to banks and financial institutions on Thursday, takes effect from May 1, 2026. This move is part of the CBN’s ongoing efforts to strengthen...
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