CBN Clarifies NRBVN Charges for Nigerians in Diaspora

By Oluwakemi Kindness

CBN says BVN registration remains free for Nigerians at home, clarifies $50 fee applies only to diaspora enrolment via the NRBVN platform.

The Central Bank of Nigeria (CBN) has clarified that the Bank Verification Number (BVN) registration remains free for Nigerians residing in the country, dismissing rumours of new or hidden charges.

This follows speculations surrounding the newly launched Non-Resident BVN (NRBVN) platform, which is designed for Nigerians living abroad.

Speaking via a statement issued in Abuja on Monday, the Bank’s Acting Director of Corporate Communications, Hakama Sidi-Ali, explaines that the $50 fee referenced in recent reports applies only to the diaspora-targeted NRBVN service.

According to her, the charge is not a fee for obtaining a BVN but a processing cost covering remote biometric capture, secure identity verification, data handling, and technology infrastructure.

“Nigerians in the Diaspora previously paid $200. The associated fee of $50 is strictly a processing charge for remote verification and not a payment for the BVN itself,” she stated.

She describes claims of new or excessive charges as inaccurate and misleading, urging the public to disregard such reports and seek updates through official CBN and NIBSS communication channels.

Sidi-Ali emphasizes that the NRBVN is a voluntary and secure system aimed at providing convenient access to BVN registration for Nigerians overseas, allowing them to complete the process without returning home.

The NRBVN platform, developed in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), forms part of the Bank’s broader digital transformation strategy to improve financial inclusion and access globally.

The system enables remote registration, helping Nigerians abroad save on travel costs and time, while ensuring secure access to banking services. It also aligns with international best practices in digital identity management.