Connect with us

Breaking News

New CBN BVN Rules: 5 Things Nigerians Must Know From May 1

Published

on

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

👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Breaking News

‘Nigeria is a safe country’ Reno Omokri Tells Portuguese Ambassador Who Drives Nigeria Highways Without Escort, Calls Trips Safe

Published

on

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

👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.

Continue Reading

Breaking News

Nigerians Convicted in $215m Global Email Fraud

Published

on

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

👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.

Continue Reading

Breaking News

Jandor Withdraws From 2027 Lagos Governorship Race After Tinubu Endorses Hamzat

Published

on

Dr Olajide Adediran, popularly known as Jandor, has withdrawn from the 2027 Lagos governorship race under the All Progressives Congress (APC). His decision comes days after President Bola Tinubu endorsed Deputy Governor Obafemi Hamzat as the party’s consensus candidate. Jandor said: “Based on my earlier position that I will align with the direction of the President, I have decided to withdraw from the race.”

Key Points:

Jandor purchased his nomination forms before the president’s endorsement.
He addressed party leaders and supporters at Liberty House in Ikeja.
He had previously called for a competitive primary election.
Jandor defected from the PDP to the APC last year.
Hamzat is now the clear frontrunner for the APC ticket...TAP TO CONTINUE FULL READING.

Jandor’s withdrawal consolidates Hamzat’s position as the consensus candidate.

Sources: Daily Post Nigeria

👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.

Continue Reading

Trending