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The Central Bank of Nigeria (CBN), in partnership with NIBSS, has launched the Non-Resident Bank Verification Number (NRBVN) platform, enabling Nigerians in the diaspora to register for BVN remotely.
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CBN Governor, Olayemi Cardoso, described the move as a major milestone in Nigeria’s financial inclusion drive, targeting $1 billion in monthly remittances, up from $4.73 billion in 2024.
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has unveiled the Non-Resident Bank Verification Number (NRBVN) platform.
Speaking at the launch event in Abuja, CBN Governor, Olayemi Cardoso, stated that the new platform eliminates the need for physical presence in Nigeria to obtain a BVN.
“For too long, many Nigerians abroad have faced difficulties accessing financial services at home due to physical verification requirements.
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“The NRBVN changes that. Through secure digital verification and robust Know Your Customer processes, Nigerians worldwide will now be able to access financial services more easily and affordably,”he said.
Cardoso highlighted that the initiative is not just about improving access, but also about national inclusion and prosperity. “We are building a secure, efficient, and inclusive financial ecosystem for Nigerians globally. This platform is not just about financial access, it’s about national inclusion, innovation, and shared prosperity,” he said.
He further noted that remittances had increased from $3.3 billion in 2023 to $4.73 billion in 2024, attributing the rise to recent reforms.
“With the introduction of NRBVN and complementary policy measures, we are optimistic about achieving our ambitious target of $1bn in monthly remittance flows,” Cardoso added.
Managing Director/CEO of NIBSS, Premier Oiwoh, explained that the platform follows international standards, incorporating strict anti-money laundering and KYC compliance protocols.
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Deputy Governor of Economic Policy at CBN, Muhammad Abdullahi, described the platform as transformative, urging stakeholders to support its evolution to meet diaspora needs.
The NRBVN platform is part of a broader effort that includes the Non-Resident Ordinary Account and Non-Resident Nigerian Investment Account, which grant diasporans access to services like savings, insurance, pensions, and capital market investments—with full flexibility to repatriate proceeds.
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