By | YOUNG, D
The Central Bank of Nigeria has introduced a new mobile banking control that will stop customers from using the same banking app on multiple devices at the same time.
Under the new requirement, a mobile banking application will be tied to one device. Customers who change phones will be expected to complete a fresh activation and authentication process before they can resume use.
The measure forms part of a wider framework aimed at tightening instant payment security and reducing fraud across Nigeria’s banking system.
The new rules are expected to take effect from July 1, 2026.
The framework also introduces stricter safeguards around app activation, transaction settings and digital onboarding.
Customers will be allowed to set lower personal transaction limits within the maximum thresholds already approved by regulators. Any request to raise transaction limits will be subject to enhanced checks by the financial institution.
Banks and other financial institutions are also expected to apply stronger fraud monitoring measures under the updated framework.
For customers, the most immediate impact will be the end of simultaneous banking app access across several devices. The policy is expected to strengthen account protection, especially in cases involving stolen login credentials, unauthorised device linking and digital account compromise.
At the same time, the change may create added steps for users who switch devices often or maintain both a main and backup phone for banking access.
The latest directive reflects the CBN’s broader push to tighten digital payment controls as mobile banking adoption continues to grow and fraud risks become more sophisticated.
