CBN Simplifies BVN Registration for Nigerians in Diaspora

By Oluwakemi Kindness

The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has officially launched the Non-Resident Bank Verification Number (NRBVN) platform—a secure digital gateway enabling Nigerians living abroad to obtain their Bank Verification Number (BVN) without having to be physically present in the country.

The platform is designed to enhance financial inclusion, streamline identity verification, and facilitate easier access to banking services for the Nigerian diaspora.

Speaking at the unveiling in Abuja, on Tuesday, CBN Governor,  Olayemi Cardoso said the initiative eliminates long-standing barriers faced by Nigerians overseas who struggle with physical verification requirements.

“For too long, many Nigerians abroad have faced difficulties accessing financial services at home due to physical verification requirements,” Cardoso noted. “The NRBVN changes that. Through secure digital verification and robust Know Your Customer (KYC) processes, Nigerians worldwide can now access financial services more easily and affordably.”

He emphasized that the NRBVN platform is a dynamic and evolving system, calling on stakeholders—banks, fintech companies, and International Money Transfer Operators (IMTOs)—to actively participate in its continuous improvement.

Recent policy reforms have already bolstered formal remittance inflows, increasing from $3.3 billion in 2023 to $4.73 billion in 2024. With the NRBVN in place, the CBN is optimistic about achieving its $1 billion monthly remittance target.

“We are building a secure, efficient, and inclusive financial ecosystem for Nigerians globally,” the CBN Governor stated. “This platform is not just about financial access; it’s about national inclusion, innovation, and shared prosperity.”

The launch event also featured a presentation by NIBSS Managing Director/CEO Premier Oiwoh, and a panel discussion involving key industry stakeholders.

The NRBVN is part of a wider framework that includes the Non-Resident Ordinary Account (NROA) and Non-Resident Nigerian Investment Account (NRNIA). These accounts provide diaspora Nigerians with access to savings, mortgages, pensions, insurance, and capital market investments. Under existing regulations, investors retain full rights to repatriate the proceeds of their investments.

To uphold global standards, the NRBVN system incorporates stringent Anti-Money Laundering (AML) and KYC compliance protocols, ensuring transparency, security, and trust in Nigeria’s financial system. Each registration undergoes comprehensive verification to guard against illicit activity.