The Nigeria Financial Intelligence Unit (NFIU) is the central agency responsible for collecting, analyzing, and sharing information about financial transactions that may relate to money laundering, terrorism financing, or other financial crimes.
In plain terms, the NFIU is like the watchdog of Nigeria’s financial system. Banks, financial institutions, and regulators send them reports if they notice anything unusual, suspicious, or inconsistent in a customer’s records or transactions.
So, if you suddenly change your name in a way that looks suspicious (for example, moving from “Emeka Okoro” to “Aliyu Ibrahim” without strong documents to back it up), the bank is obligated to report it to the NFIU.
It may sound strange at first, after all, changing your name is your right. But for banks and regulators, name changes can sometimes be used to hide illegal activities.
For example:
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A fraudster may try to change their name after being blacklisted.
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Someone involved in suspicious transactions may switch names to confuse investigators.
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Criminals may use different names across different bank accounts to cover their tracks.
Because of these risks, the NFIU requires banks to scrutinize name change requests carefully. If everything checks out and your documents are valid, there is no problem. But if something looks unusual, the bank will flag it.
In February 2016, the Central Bank of Nigeria (CBN) issued an important circular titled:
“Clarification on Accounts with BVN Related Issues.”
This circular made it clear how banks should handle cases of name correction or change. Here are the main points explained in simple language:
- Correction of Date of Birth – Allowed only once, and only if you provide valid documents like a birth certificate or an international passport.
- Change of Name Due to Marriage – Allowed if you show supporting documents like a marriage certificate and affidavit.
- Minor Correction of Spelling Errors – Allowed if it is just a small correction. For example, “Oshikoya” corrected from “Osikoya.” You must show an ID, like your international passport.
- Totally Different or Partially Different Names – This is where things get serious. If your new name is very different from your old one (e.g., Ezra Abu changing to Aminu Umar) or partially different (e.g., Ezra Abu Jide changing to Ezra Abu Olubaje), the bank will not just update it. They must treat it as suspicious unless you provide very strong documents.
- In such cases, the bank is required to report the matter to the NFIU.
- Name Must Match Across All Accounts – Whatever name is on your BVN must be the same across all your bank accounts in Nigeria.
- Closing Accounts with Large Balances – If you want to close an account linked to a BVN and transfer the funds (especially large balances like ₦10 million), the bank must get clearance from the EFCC/NFIU before transferring the money.
- Suspicious Transactions – If, during or after a name change, your account activity raises suspicion, the bank must file a suspicious transaction report with the NFIU.
- Timeline – Once you submit all your documents, BVN-related issues (including name change) should be resolved within 5 working days.
Here’s a step-by-step guide if you want to change your name and avoid issues with NFIU or your bank:
Step 1: Ensure It’s a Basic Modification
Try to stick to basic name change reasons like correction, due to marriage, rearrangement, addition of a middle name, divorce, spelling error, and similar cases.
Unless really required, avoid trying to change your entire name, as this could take time for modification due to the NFIU step involved.
An alternative to this, if you want to include your other names on your official records, is using the name addition option while maintaining your existing first and last name.
Step 2: Swear an Affidavit
Go to a High Court in Nigeria and swear to an affidavit stating your old name and your new name. This is the legal foundation of your name change.
Step 3: Newspaper Publication
Publish your name change in a widely circulated national newspaper (such as Punch, Guardian, Vanguard, or Leadership). This acts as a public notice.
Step 4: Update Your Identification Documents
Update your NIN (National Identity Number), International Passport, Driver’s Licence, and Voter’s Card to reflect your new name.
Step 5: Update Your BVN and Bank Records
Take all the documents to your bank:
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Affidavit of name change
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Newspaper publication
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Marriage certificate (if applicable)
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Updated ID (Passport, NIN, Driver’s Licence)
Your bank will then update your records and BVN.
Step 6: Wait for Processing
By law, BVN-related changes should be completed within 5 working days if your documents are in order.
Your case may be reported to the NFIU if:
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Your name change is completely different from your old name.
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Your name change looks like an attempt to hide your identity.
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You are closing an account with a large balance and transferring the funds.
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Your transactions raise suspicion after the name change.
If your case is straightforward (for example, changing your surname after marriage), you usually will not have any problem.
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Not Updating All IDs – If your bank records say one thing and your NIN says another, you may be flagged.
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Using Old and New Names Interchangeably – This confuses the system and may trigger suspicion.
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Delaying the Process – The longer you wait to update your records, the higher the chance of running into issues.
Changing your name in Nigeria is your legal right, but you must follow the proper steps to avoid issues with your bank and regulatory agencies.
The NFIU change of name process is not about going to the NFIU office; it is about making sure your bank processes your name change correctly and reports it if necessary.
If your change of name is genuine and supported by documents like an affidavit, marriage certificate, newspaper publication, and a valid ID, you have nothing to worry about.
The most important thing is to make sure your name is consistent across all accounts and IDs. This will save you from unnecessary stress and ensure smooth banking transactions in the future.
Below are some frequently asked questions regarding the NFIU change of name issue:
Do I go directly to the NFIU to change my name?
No. You do not deal with the NFIU directly. You go through your bank. The bank only notifies the NFIU if your name change looks suspicious.
How long does it take to update my name in BVN?
According to CBN, it should not take more than 5 working days once you submit all documents.
Will my account be blocked if I change my name?
Not if you provide valid documents. But if your change of name is suspicious, your account may be restricted until cleared.
Do I need a newspaper for marriage name change?
No, a marriage certificate is usually enough if it is issued in Nigeria. If not, you may be required to submit a supporting affidavit.
Can I change my name multiple times?
You can, but frequent name changes may raise suspicion and trigger reporting to the NFIU.
