Public affairs analyst and civic society advocate Morisola Alaba-Akinlabi has urged Nigeria’s central bank to reconsider a current rule that limits how many times customers can change the mobile phone number linked to their Bank Verification Number (BVN). Speaking during a press briefing in Abuja on Friday, she argued that the restriction introduced in the bank’s recent regulatory guidance could hinder access to financial services and weaken trust in the country’s digital identity systems.
Central bank restriction draws fresh criticism
Alaba-Akinlabi’s remarks followed a regulatory directive issued to banks in April 2026, which restricted updates of phone numbers tied to customers’ BVN records. The policy, she noted, has sparked mixed reactions among bank customers and other players across Nigeria’s banking industry in recent weeks.
She said the measure should be reviewed to protect Nigerians and reduce unintended harm, especially for people who rely heavily on mobile connectivity to interact with banking platforms.
Concerns raised: access, inclusion and data rights
In her intervention, Alaba-Akinlabi outlined several potential consequences she believes the central bank’s approach could create. Her concerns included reduced ability for customers to access financial services securely, effects that she said would fall more heavily on vulnerable groups and people who are more likely to use phones as their primary channel for financial activity, and the creation of hurdles that could undermine financial inclusion.
She also argued that the policy could erode public confidence in both digital identity systems and the broader financial ecosystem.
- Limiting BVN-linked phone updates may restrict customers’ secure access to financial services.
- Vulnerable and mobile-first populations could be disproportionately affected.
- Additional procedural barriers may weaken progress toward financial inclusion.
- Public trust in digital identity and financial systems could be damaged.
Alaba-Akinlabi further contended that the central bank’s stance may conflict with protections for data subjects under Nigeria’s data governance framework. She said the central bank’s action undermines rights guaranteed under the Nigeria Data Protection Commission framework and the Nigeria Data Protection Act (NDPA).
Legitimate reasons for changing numbers
She added that the restriction could punish customers who have genuine, practical reasons to update their contact details. In her view, many individuals may need to change phone numbers multiple times for reasons that are not linked to fraud or misuse, such as SIM loss, theft, or compromise; switching telecommunications providers; security worries or fraud-related incidents; relocation; or changing personal and professional circumstances.
Call for policy change and a more flexible approach
Alaba-Akinlabi said the central bank should respond to the concerns raised by revisiting the policy design and improving safeguards. In her statement, she urged the Central Bank of Nigeria to take the following steps:
- Immediately review the restriction that limits BVN-linked phone number modifications to a single instance, and allow customers multiple opportunities.
- Ensure continued alignment with the Nigeria Data Protection Act by protecting individuals’ right to correct inaccurate or outdated personal data.
- Use a balanced, risk-based framework that permits multiple phone number updates, paired with appropriate identity verification and fraud prevention controls.
- Improve customer protection by creating transparent, easy-to-access, and secure procedures for legitimate BVN-related phone number updates.
She said these changes would help ensure that legitimate customer needs are met while maintaining safeguards against identity and fraud risks.
