How to Change the Phone Number on Your BVN (Once-in-a-Lifetime Rule, 2026)
Since 1 May 2026 the phone number on your BVN can be changed only once in your lifetime, and only in person at your bank. How to do it, what to bring, and why it matters for your shares and dividends.
You change the phone number on your BVN by visiting a branch of your bank with a valid ID and the new SIM. It cannot be done online, in an app or by USSD. Since 1 May 2026 the Central Bank of Nigeria allows the number to be changed only once in your lifetime, so the number you choose now is likely to be the one you keep.
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The 2026 Rule
A Central Bank of Nigeria circular of 13 March 2026, effective from 1 May 2026, limits updates to the phone number linked to a BVN to one in a lifetime. The reason is fraud: the linked number receives one-time passwords and account alerts, so it is the main target of SIM-swap fraud.
How to Change It
- Choose a number registered in your own name, on a network you intend to stay with.
- Visit a branch of a bank where you hold an account.
- Bring a valid photo ID, your BVN, and the new SIM.
- The bank verifies you, updates the number, and may send a confirmation code to the new line.
Use a number in your own name, not a family member's or a work line. You may not be able to change it again.
If You Live Abroad
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The update has to be done in person, so Nigerians abroad usually do it on a visit home. Until then, keep the old Nigerian SIM active if you can, for example with international roaming, because it is how your bank reaches you. Your bank app and customer service can still confirm your BVN in the meantime.
Why It Matters for Your Shares
The phone number on your BVN is often the one your bank, broker and share registrar use to verify you. When it is out of date, identity checks for a new CSCS account, a change of bank details for dividends, or a claim for unclaimed dividends can stall. Updating it once, carefully, avoids that.
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Update Your Bank Details With a RegistrarFrequently Asked Questions
Can I change my BVN phone number online?
No. It has to be done in person at your bank.
How many times can I change my BVN phone number?
Once in your lifetime, under the rule in force since 1 May 2026.
Is there a fee?
Banks generally do not charge to update the number, but ask your bank.
Can I change it at any bank?
At a bank where you hold an account. It does not have to be the bank you first enrolled with.
What if my old number has been recycled by the network?
Visit your bank promptly to update it, as one-time passwords would otherwise go to someone else.
Important disclaimer. This article is for general information and educational purposes only. It does not constitute financial advice, investment advice, or any recommendation to buy, sell, or hold any security. The value of investments can fall as well as rise. You should seek independent regulated financial advice before making any investment decision. Shares Saver does not provide financial advice.
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