Di Central Bank of Nigeria (CBN) don bring big change for di Bank Verification Number (BVN) system, wey go start from May 1. Dis move na to tighten security for digital banking and reduce fraud.

Di new rules go change how millions of Nigerians dey use mobile banking, change phones, and manage dia bank details.

Under di new arrangement, customers go only fit use dia banking app for one mobile device at a time. If you log into new phone, e go automatically log you out from any device wey you don use before.

Also, if you want change device, you go need to pass through extra verification. CBN say dis one na to stop people wey no get access and identity theft.

Di bank don also increase surveillance for suspicious activities. Any BVN wey dem see unusual transactions go land for 24-hour watchlist. For dat time, banks fit freeze or restrict accounts wey connect to dat BVN, as dem dey investigate further.

Anoda big change na for phone numbers wey link to BVN. Customers go now fit change dia registered phone number only once. Dis policy na to reduce SIM-swap fraud, wey don become serious problem for Nigeria banking sector.

Di new rules still bring stricter age requirement. Only people wey be 18 years and above go fit register for BVN. Anybody wey be minor must operate bank account under guardiance of one guardian.

Customers wey change device go face temporary transaction limits. For di first 24 hours afta you log into new device, transfer no go pass N20,000.