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The Central Bank of Nigeria (CBN) has announced new measures to enhance the security of the Bank Verification Number (BVN) system, effective from May 1. The guidelines limit BVN enrollment to individuals aged 18 and older.
The Central Bank of Nigeria has announced new guidelines aimed at enhancing the security of mobile and internet banking services. The regulations will allow customers to manage their instant payment options and enforce transaction limits.
The Central Bank of Nigeria (CBN) has urged banks and payment service providers to take actionable steps to significantly reduce electronic fraud, mandating a response to suspicious transactions within 30 minutes, following a 51% decrease in fraud losses in 2025.
The Securities and Exchange Commission (SEC) is requesting the Nigeria Police Force to enhance their fight against fraudsters in the cryptocurrency sector and Ponzi scheme operators, who are currently thriving beyond official surveillance.
