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, customers are advised to update and secure their details ahead of the deadline to avoid disruptions. While the policy aims to reduce fraud and strengthen digital banking, concerns remain about its impact on access, especially for users navigating Nigeria’s existing banking and network challenges.

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