Abuja, Nigeria
The Central Bank of Nigeria (CBN) has collaborated with the Nigeria Inter-Bank Settlement System (NIBSS) to launch the non-resident bank verification number (NRBVN) platform for Nigerians in the diaspora.
This is to ease financial services for Nigerians who are abroad but want to remit money back home.
The platform which was launched on Tuesday in Abuja allow Nigerians in the diaspora to obtain their BVNs online without the need for physical presence in Nigeria.
The governor of the CBN, Olayemi Cardoso, who spoke at the launch, said the NRBVN is a major leap in the apex bank’s financial inclusion agenda, particularly for Nigerians living outside the country.
“For too long, many Nigerians abroad have faced difficulties accessing financial services at home due to physical verification requirements,” Cardoso said.
“The NRBVN changes that. Through secure digital verification and robust KYC processes, Nigerians worldwide can now access financial services more easily and affordably.”
According to Cardoso, the platform would boost access and also drive innovation and deepen trust in Nigeria’s financial system.
“We are building a secure, efficient, and inclusive financial ecosystem for Nigerians globally,” he said.
“This platform is not just about financial access—it’s about national inclusion, innovation, and shared prosperity.”
Highlighting the importance of diaspora remittances, the CBN governor said inflows rose from $3.3 billion in 2023 to $4.73 billion in 2024, driven in part by recent foreign exchange reforms.
He expressed confidence that the NRBVN, supported by complementary policy measures, could enable Nigeria to achieve its goal of $1 billion in monthly remittances.
“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.
