CBN Launches Non-Resident BVN For Nigerians Abroad
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has introduced the Non-Resident Bank Verification Number (NRBVN) to facilitate banking for Nigerians living abroad.
This announcement was made via a post on X on Tuesday.
CBN Governor Olayemi Cardoso described the NRBVN as a significant step in Nigeria’s financial inclusion efforts, aimed at fostering economic integration.
He explained that the NRBVN allows Nigerians globally to easily and securely obtain their BVN through a digital verification process, enhancing financial access.
Cardoso said, “The NRBVN is a major milestone in Nigeria’s financial inclusion drive, and it reflects a commitment to innovation and an inclusive growth for economic integration.
“Through digital verification and robust know your customer (KYC) process, Nigerians across the globe can now remotely obtain their BVN swiftly and securely.”
Cardoso highlighted that the NRBVN provides a single digital channel for Nigerians abroad to open accounts, send money, and access other banking services.
He called on Nigerian banks to create specialised products for the diaspora, emphasising that such innovations would boost remittance flows and contribute to financial inclusion.
He also urged stakeholders to adhere to foreign exchange regulations to maintain market stability.
He added, “The NRBVN is a dynamic, evolving platform—a bridge connecting Nigeria with its global citizens—and reaffirms the Bank’s commitment to lowering remittance costs and expanding financial inclusion for all Nigerians.”
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
