WED MAY 14 2025-theGBJournal| The Central Bank of Nigeria (CBN) on Tuesday unveiled a new digital platform, the Non-Resident BVN (NRBVN), that will enable Diaspora Nigerians remotely obtain their BVN swiftly.
The move has been hailed as ‘innovative and forward looking’ by Diaspora Nigerians who spoke to theG&BJournal on the development.
The CBN collaborated with the Nigeria Inter-Bank Settlement System (NIBSS) to roll out the new (Bank Verification Number or BVN) framework, the NRBVN, which it describes as a secure digital gateway to banking for Nigerians abroad.
The CBN Governor Olayemi Cardoso says the launch of the NRBVN platform is a major milestone in Nigeria’s financial inclusion drive and reflects a commitment to innovation, inclusive growth, and economic integration.
The new platform will also enable Nigerians abroad to open accounts, send funds securely, and access banking services with greater convenience and lower costs.
This is a complete departure from the past when Diaspora Nigerians are required to travel back home for their BVN enrollment.
Recall that the CBN and NIBSS had set up enrollment centres in major cities overseas, including London, New York and Johannesburg, but criticism remained on its coverage and reach which did not cover all Diaspora communities.
Besides, the overseas centres faced frequent technical glitches including poor connectivity, biometric equipment failures as well as delays in data transmission.
Meanwhile, Cardoso has urged Nigerian banks to equally develop tailored products for the Diaspora, stating that such innovation will deepen inclusion and significantly boost remittance flows through formal channels.
He said the CBN target’s $1 billion in monthly remittances, and emphasised the need for all stakeholders to comply with the FX Code and regulatory guidelines to preserve market stability and trust.
”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,” Cardoso noted.
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