CBN Limits BVN Phone Number Changes to Once in a Lifetime

The Central Bank has introduced a new rule that could affect how you access your bank account.

Starting May 1, 2026, you can only change the phone number linked to your BVN once in your lifetime.

Yes… just once.

Why this matters:

Your phone number is not just for calls.
It is what your bank uses to send alerts, confirm transactions, and recover your account.

That makes it a major target for fraud.

If someone gains control of your number, they can try to access your money. This is one of the most common ways fraud happens today.

So the new rule is meant to reduce that risk.

There is more:

Banks will now place suspicious BVNs on a temporary watchlist.
If something unusual happens, your account can be paused for up to 24 hours while the bank confirms the activity with you.

This gives banks time to stop fraud before money is moved.

What this means for you:

Make sure the phone number linked to your BVN is active and secure.
Avoid unnecessary SIM swaps or number changes.
Always protect your personal banking details.

This is part of a bigger move to make digital banking safer as more people rely on mobile transactions.

Do you think this rule will reduce fraud… or make things harder for users?