Explainer: CBN’s New BVN Rules: What Bank Customers Must Do Before May 1 The Central Bank of Nigeria has introduced new BVN guidelines set to take effect from May 1, 2026, bringing major changes to how Nigerians access and manage their bank accounts. The update includes stricter security measures such as one-device login limits, a one-time phone number change policy, and possible temporary restrictions on accounts flagged for suspicious activity. With the new rules applying to all BVN holders, c

The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort and financial adviser to the federal government. #CBN | Abiodun Christopher