The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the Non-Resident Bank Verification Number (NRBVN) platform, allowing Nigerians living abroad to obtain a BVN without traveling home. However, applicants will now pay a processing fee of $50 (approximately ₦80,000).
While BVN registration remains free for residents in Nigeria, this new system introduces a fee for Nigerians in the diaspora. The CBN said the initiative is part of broader efforts to increase financial inclusion and enable overseas Nigerians to access financial services back home.
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With the NRBVN, diaspora Nigerians can now open and operate Non-Resident Ordinary Accounts (NROA) and Non-Resident Nigerian Investment Accounts (NRNIA). These accounts will allow them access to mortgages, insurance, pensions, and capital market opportunities, with the ability to repatriate investment returns.
To register, applicants are to visit nrbvn.com, create an account using their email, complete a liveness test, verify their phone number, and upload required documents such as a Nigerian passport, proof of residence abroad, and a utility bill. Optional documents include tax records and employment details.
The CBN aims to use the platform to boost diaspora remittances and strengthen Nigeria’s foreign exchange reserves, which is targeted at $1 billion in inflows.
