Reverse restriction on customers’ BVN-linked number modification — Alaba-Akinlabi to CBN

Public affairs analyst and civic society advocate, Morisola Alaba-Akinlabi, has called on the Central Bank of Nigeria under Governor Olayemi Cardoso, to reverse its restriction on customers’ Bank Verification Number, BVN, mobile number modification. 

She made this call in a press briefing on Friday in Abuja. 

DAILY POST reports that the CBN, in a regulatory directive issued to banks in April 2026, restricted updates of phone numbers linked to customers’ BVN. 

The decision had generated mixed reactions from bank customers and stakeholders within the country’s banking sector in the past weeks. 

Reacting, Alaba-Akinlabi asked CBN to review the policy decision for the good of Nigerians. 

According to her, it would result in the following concerns, including limiting customers’ ability to securely access financial services; disproportionately affecting vulnerable and mobile populations; creating unnecessary barriers to financial inclusion; and eroding public confidence in digital identity and financial systems.

She stressed CBN’s move would undermine the rights of data subjects as guaranteed under the Nigeria Data Protection Commission framework and the Nigeria Data Protection Act, NDPA.

Alaba-Akinlabi noted that CBN’s decision would undermine individuals who genuinely need to change their phone numbers multiple times due to a range of legitimate circumstances, including loss, theft, or compromise of SIM cards; changes in telecommunications providers; security concerns or fraud incidents; relocation; or evolving personal and professional needs.

“In light of the concerns raised regarding restrictions on BVN-linked phone number changes, we respectfully call on the Central Bank of Nigeria to:

“Immediately review the current restriction limiting BVN-linked phone number modifications to a single instance and permit multiple opportunities.

“Ensure full compliance with the Nigeria Data Protection Act (NDPA) by safeguarding the continuing right of individuals to rectify inaccurate or outdated personal data.

“Adopt a balanced, risk-based framework that allows multiple phone number updates subject to appropriate identity verification and fraud prevention measures.

“Strengthen customer protection mechanisms by introducing transparent, accessible, and secure procedures for legitimate BVN data updates,” she stated. 

Reverse restriction on customers’ BVN-linked number modification — Alaba-Akinlabi to CBN