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BVN: Between A Draconian Directive And An Unconstitutional Policy
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BVN: Between A Draconian Directive And An Unconstitutional Policy
By Chuma Uwechia, Esq. In a circular issued to banks and other financial institutions on Thursday, March 12, 2026, the Central Bank of Nigeria (CBN) directed that effective from May 1, 2026, amendments to phone numbers linked to BVN (Bank Verification Number) shall be allowed only once. There were no extenuating conditions or exemptions attached to that directive. The new policy directive does not sync and is incongruous with the Nigerian Commun…
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