The Central Bank of Nigeria (CBN) has introduced stricter rules for Bank Verification Number (BVN) updates, with key changes taking effect from 1 May 2026.
Under the new policy, customers will be allowed to change the phone number linked to their BVN only once in their lifetime. This restriction aims to reduce fraud, enhance security, and tighten control over identity-linked banking activities that rely heavily on the National Identification Number (NIN).
The announcement ties directly into Nigeria’s broader push for stronger identity verification. Since BVN is closely integrated with NIN for bank account opening, SIM registration, and other financial services, the limit on phone number changes is expected to make it harder for individuals to create multiple profiles or bypass verification processes.
In addition to the lifetime limit, the CBN is reinforcing mandatory revalidation of existing BVN and NIN details linked to bank accounts. Banks have been directed to ensure all customer records are electronically verified to remain active.
The policy forms part of ongoing efforts to clean up the financial system, curb identity theft, and support initiatives like the Federal Inland Revenue Service’s plan to use NIN as the primary Tax Identification Number (TIN) for individuals starting in 2026.
For millions of Nigerians, the May 1, 2026 deadline serves as a final window to update phone numbers linked to their BVN before the once-in-a-lifetime rule kicks in. After this date, any further phone number changes will require exceptional approval or may not be permitted at all.
Experts see the move as another step toward a more unified digital identity ecosystem in Nigeria, where NIN becomes the single source of truth for banking, taxation, education, and government services. However, it also raises concerns about flexibility for users who frequently change numbers due to network issues, job relocation, or security reasons.
Nigerians are advised to visit their banks or use approved channels to make any necessary BVN phone number updates before the May deadline. Those who miss it could face difficulties accessing banking services or linking new SIM cards in the future.
This development continues Nigeria’s aggressive digitisation drive, building on NIN-SIM linkage, recapitalisation of banks, and the integration of national ID into everyday financial transactions.
Also read: Nigeria’s 2026 Bank Recapitalisation vs 2004 Consolidation: Evolution, Not Revolution
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