CBN unveils BVN platform for Nigerians in diaspora

The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has inaugurated the Non-Resident Bank Verification Number (NRBVN) platform.

The CBN unveiled the platform in Abuja on Tuesday, May 13, 2025.

The apex bank state that this innovative digital gateway allows Nigerians in the diaspora to obtain a BVN remotely without the need for a physical presence in Nigeria.

CBN Governor Olayemi Cardoso described the initiative as a milestone in Nigeria’s financial inclusion journey and a critical bridge connecting the country to its global citizens.

Cardoso said: “For too long, many Nigerians abroad have faced difficulties accessing financial services at home due to physical verification requirements.

“The NRBVN changes that. Through secure digital verification and robust Know Your Customer (KYC) processes, Nigerians worldwide should now be able to access financial services more easily and affordably.”

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Cardoso described the NRBVN as a dynamic platform, saying: “It is not the final destination, but it is the beginning of a broader journey.

“Stakeholders across the financial ecosystem, including banks, fintechs, and International Money Transfer Operators (IMTOs) are encouraged to integrate and collaborate in shaping and refining the system as it evolves.”

The CBN boss said remittance flows through formal channels increased from $3.3 billion in 2023 to $4.73 billion in 2024, due to recent reforms and policy shifts, including the introduction of the willing buyer, willing seller FX regime.

He added: “With the NRBVN in place, the CBN is optimistic about reaching its one billion dollars monthly remittance target.

“We are building a secure, efficient, and inclusive financial ecosystem for Nigerians globally.

“This platform is not just about financial access, it is about national inclusion, innovation, and shared prosperity.”

The Star