By Douglas Maha, Abuja
Nigerians living abroad will now be required to pay $50 (about N80,000) to obtain a Non-Resident Bank Verification Number (NRBVN), following the launch of a remote BVN registration platform by the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS).
The NRBVN platform allows diaspora Nigerians to register for a BVN online without visiting Nigeria, a move aimed at boosting financial inclusion and integrating the diaspora into Nigeria’s economy. In contrast, BVN registration remains free for residents in Nigeria.
To register, applicants must sign up at nrbvn.com, provide personal information, upload supporting documents—including a Nigerian passport, proof of residency, and utility bill—and pay the $50 application fee via a secure gateway. A liveness test and phone number verification are also part of the process.
CBN Governor Olayemi Cardoso emphasized that the platform will help achieve the bank’s goal of increasing remittance inflows to $1 billion monthly. In 2024, total diaspora remittances reached $1.92 billion, slightly below the $1.98 billion in 2023.
Reactions to the fee have been mixed. While some see it as reasonable compared to the cost of flying home to register in person, others view it as an unnecessary charge.
Beyond BVN registration, the platform also provides access to Non-Resident Ordinary Accounts (NROA) and Nigerian Investment Accounts (NRNIA), offering diaspora Nigerians broader access to savings, mortgages, pensions, and investment opportunities in Nigeria.
All applications are subject to strict security and verification protocols, ensuring compliance with global standards.
