Public affairs analyst and civic society advocate Morisola Alaba-Akinlabi has urged Nigeria\u2019s 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\u2019s recent regulatory guidance could hinder access to financial services and weaken trust in the country\u2019s digital identity systems.<\/p>\n
Alaba-Akinlabi\u2019s remarks followed a regulatory directive issued to banks in April 2026, which restricted updates of phone numbers tied to customers\u2019 BVN records. The policy, she noted, has sparked mixed reactions among bank customers and other players across Nigeria\u2019s banking industry in recent weeks.<\/p>\n
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.<\/p>\n
In her intervention, Alaba-Akinlabi outlined several potential consequences she believes the central bank\u2019s 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.<\/p>\n
She also argued that the policy could erode public confidence in both digital identity systems and the broader financial ecosystem.<\/p>\n
Alaba-Akinlabi further contended that the central bank\u2019s stance may conflict with protections for data subjects under Nigeria\u2019s data governance framework. She said the central bank\u2019s action undermines rights guaranteed under the Nigeria Data Protection Commission framework and the Nigeria Data Protection Act (NDPA).<\/p>\n
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.<\/p>\n
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:<\/p>\n
She said these changes would help ensure that legitimate customer needs are met while maintaining safeguards against identity and fraud risks.<\/p>\n","protected":false},"excerpt":{"rendered":"
Public affairs analyst and civic society advocate Morisola Alaba-Akinlabi has urged Nigeria\u2019s 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 […]<\/p>\n","protected":false},"author":2,"featured_media":875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_title":"CBN BVN Rules Under Fire as Phone Number Limits Tighten","_yoast_wpseo_metadesc":"Public affairs analyst Morisola Alaba-Akinlabi urges Nigeria\u2019s CBN to ease BVN-linked phone number change limits to protect access","mma_seo_breadcrumb_text":"","mma_seo_breadcrumb_url":"","mma_seo_breadcrumb_hide_ui":"","mma_seo_breadcrumb_labels":[],"footnotes":""},"categories":[5],"tags":[],"class_list":["post-876","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business"],"yoast_head":"\n