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Apex bank says $50 fee is for overseas biometric verification, not BVN registration
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Nigerians in the country can still enrol for BVN free of charge
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NRBVN system part of CBN’s plan to expand global financial access
The Central Bank of Nigeria (CBN) has dismissed claims of hidden charges on its newly introduced Non-Resident Bank Verification Number (NRBVN) platform, clarifying that no additional fees were imposed on Nigerians at home or abroad.
In a statement issued by the Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, the apex bank explained that BVN enrolment for Nigerians living in the country remains entirely free.
Sidi Ali noted that the nominal charge of $50 applies only to Nigerians in the diaspora who opt for remote enrolment, describing it as a recoverable processing cost for biometric and due diligence verification.
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“The associated fee of $50 is strictly a processing charge for remote verification and not a payment for the BVN itself. Nigerians in the diaspora previously paid $200,” she clarified.
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The CBN said the charge covers secure identity authentication, data handling, and technology infrastructure needed to support the overseas enrolment process.
The NRBVN platform, launched in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), allows Nigerians abroad to obtain their BVN remotely, avoiding travel costs while ensuring secure transactions.
Sidi Ali dismissed viral reports suggesting new or excessive fees as “inaccurate and misleading” and urged the public to rely only on official communication channels from CBN and NIBSS for information.
She added that the NRBVN solution represents a key element of the bank’s broader digital transformation agenda to improve access to financial services for Nigerians globally.
