Central Bank of Nigeria (CBN) has introduced stricter rules guiding the use and management of the Bank Verification Number (BVN) as part of efforts to reduce fraudulent transactions within the financial system.The revised framework, which takes effect from May 1, includes tighter controls on BVN enrolment, data access and customer information updates.

The apex bank said the measures are aimed at strengthening identity management, improving fraud monitoring and safeguarding the integrity of banking transactions.

Under the new guidelines, BVN enrolment is now restricted to individuals aged 18 and above, while customers will only be allowed to change the phone number linked to their BVN once.

The restriction is designed to curb identity manipulation often exploited by fraudsters through repeated updates of personal information.

The CBN also directed financial institutions to maintain a temporary watchlist for BVNs linked to suspicious transactions.

Affected BVNs may be flagged for up to 24 hours, during which customers are expected to verify or clarify flagged transactions before further action is taken.

In addition, access to BVN data has been tightened, with the apex bank retaining exclusive control over the database while granting access only to licensed financial institutions under defined conditions.

The move, according to the CBN, is expected to enhance data security and support a more resilient financial system as BVN enrolment continues to grow.

Ghana’s Securities and Exchange Commission has given the nod to 11 crypto trading platforms to participate in its new regulatory sandbox programme, its first major step in support of crypto after passing a law to provide the local market with regulatory clarity in December.

The big news however is that Binance, the world’s largest crypto exchange by trading volume is nowhere on the list, raising questions about the crypto exchange’s future in one of West Africa’s fastest-growing digital asset markets.

Newsghana reported that industry analysts covering the sandbox launch specifically flagged Binance as a notable absent player, alongside Yellow Card, whose mobile payment product Yellow Pay had previously been warned against by the Bank of Ghana (BoG) for operating without authorisation. Neither company has publicly explained its absence from the cohort.

For Binance, the omission carries particular weight. The exchange has cultivated a visible presence in Ghana for several years, including direct engagement with regulators, public financial literacy campaigns, and the presence of senior representatives in Accra.

Despite that groundwork, it did not secure a place in the inaugural sandbox when the Securities and Exchange Commission (SEC) published its list of approved Virtual Asset Service Providers (VASPs) on March 10, 2026.

Analysts have pointed to Binance’s ongoing legal battle in neighbouring Nigeria as a factor likely complicating its regulatory position across the region.

And the Nigeria Revenue Service (NRS) is pursuing Binance for an $81.5 billion claim covering alleged economic losses and unpaid taxes, arguing the exchange has a significant economic presence that makes it liable for corporate income tax for 2022 and 2023, along with a 10 percent annual penalty on outstanding amounts.

The stakes of remaining outside Ghana’s regulatory framework are rising fast.

The BoG made clear on March 5, 2026, that all VASPs operating within Ghana’s jurisdiction including those serving Ghanaian residents through digital platforms with no physical office in the country must register with the Bank.

Firms that do not comply face sanctions and potential disqualification from future licensing.

Ghana’s digital asset market has grown rapidly, recording over $10 billion in cryptocurrency transactions by November 2025, up from roughly $6 billion the year before, making it one of West Africa’s most active markets.

With over three million users estimated to be active in the ecosystem, the country represents a market Binance cannot easily afford to be shut out of through regulatory non-compliance.

The eleven sandbox participants will effectively serve as the reference models for what a compliant licensed VASP looks like under Ghana’s framework.

Those that perform well within the first six months may transition to full licensing early, while those that fall short risk being shut out of the regulated market once the sandbox period concludes.

Binance did not respond to a request for comment before publication. The SEC Ghana and BoG have not publicly commented on why specific companies were excluded from the first sandbox cohort.

Canal+ is to cut jobs at MultiChoice as part of a sweeping restructuring plan aimed at stabilising the African pay-TV operator, following years of operational and financial pressure.

The move comes alongside a planned $115 million capital injection, underscoring the urgency of efforts to revive the business after the French media group took control.

The planned layoffs are expected to form a core element of a broader cost-cutting and efficiency drive, as Canal+ seeks to streamline MultiChoice’s operations and improve profitability.

The restructuring signals a shift toward leaner operations, with a focus on eliminating redundancies and optimising the company’s cost base.

MultiChoice has struggled in recent years with declining subscriber numbers across key African markets, weighed down by macroeconomic pressures, currency volatility, and changing consumer behaviour.

The rise of global streaming platforms has intensified competition, chipping away at the company’s traditional pay-TV dominance.

Canal+’s intervention marks a pivotal moment for MultiChoice, reflecting a more aggressive approach to repositioning the business.

By combining fresh capital with structural reforms, the new owners are aiming to both stabilise short-term performance and lay the groundwork for longer-term growth.

The $115 million injection is expected to provide immediate financial relief, supporting operations and potential strategic initiatives.

However, the accompanying job cuts highlight the depth of the challenges facing the company and the scale of transformation required to restore competitiveness.