The Central Bank of Nigeria (CBN) has introduced new Bank Verification Number (BVN) rules effective from May 1, 2026, aimed at reducing fraud, especially SIM swap and identity theft cases. The regulations include stricter controls on phone number changes, age restrictions, device limits, and temporary account restrictions for suspicious activities. Here is a simple breakdown of what you need to know.

One phone number change in a lifetime – Customers can only change the phone number linked to their BVN once. Choose carefully.
24-hour watchlist for suspicious BVNs – Banks can temporarily restrict accounts flagged for suspicious activity while investigations are conducted.
BVN registration is now for adults only – Only individuals aged 18 and above can independently register for a BVN. Minors require guardian-linked arrangements.
One device per banking app – You can only use your banking app on one device at a time. Switching devices triggers a 24-hour transaction limit of N20,000.
Authorised channels only – BVN services are now limited to CBN-approved banks and financial institutions. Avoid third-party apps or unofficial agents.

The new rules may feel strict, but they are designed to protect your money and reduce fraud. Be more careful with your phone number, devices, and banking activities to avoid unnecessary restrictions...TAP TO CONTINUE FULL READING.

Sources: Nigerian Tribune

The Portuguese Ambassador to Nigeria has driven from Abuja to Bauchi and back without a security escort, describing the journeys as “very normal” and safe. Reno Omokri shared a video of the ambassador, praising Nigeria’s overall safety under President Tinubu. The ambassador also reportedly drove from Enugu to Abuja without incident. However, critics point to over 1,000 abductions since January 2026 and frequent highway kidnappings, questioning the safety claims.

Key Points:

Critics noted bandit attacks in Bauchi and other regions.
Many questioned why top Nigerian officials don’t take the same unescorted routes.
The ambassador acknowledged “some localized issues” but highlighted safety overall.
Over 1.5 million safe visitors to Lagos during the December holidays were cited.
Social media users expressed a divide between official accounts and citizens’ realities...TAP TO CONTINUE FULL READING.

The ambassador’s experience contrasts sharply with the lived reality of many Nigerians.

Sources: X

I Drove From Abuja To Bauchi And Back Without An Escort And It Was Safe-Paulo Santos, Portuguese Ambassador To Nigeria pic.twitter.com/GZmEJTHi0p

— Reno Omokri (@renoomokri) April 30, 2026

More than 1,000 victims across 19 countries were defrauded of about $215 million in a sprawling business email compromise scheme, leading to convictions of Nigerian nationals, the US attorney’s office has said. Twenty-five defendants were convicted on April 24. Among them were four Nigerian nationals and five naturalised US citizens of Nigerian descent. The scheme involved hacking email accounts and crafting fraudulent payment requests.

Key Points:

Victims were located in the US, UK, Germany, UAE, Australia, and 14 other countries.
One victim’s business sent $2.7 million to a shell company account.
Seized items included luxury watches worth over $215,000 and a Georgia residence.
The FBI, US Postal Inspection Service, and Border Patrol conducted the investigation.
A Chicago-area money service business owner was a co-defendant...TAP TO CONTINUE FULL READING.

Each defendant’s sentence will be determined based on their role and criminal history.

Sources: The Cable, Punch