The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the non-resident bank verification number (NRBVN) platform to ease access to financial services for Nigerians in the diaspora.
Unveiled on Tuesday in Abuja, the digital platform allows Nigerians abroad to obtain their BVN remotely, eliminating the long-standing requirement of physical presence in Nigeria.
Speaking at the launch, Olayemi Cardoso, governor of CBN, described the NRBVN as 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.”
Cardoso said the platform would not only boost access but 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 optimism that the NRBVN, along with complementary policy measures, could help Nigeria reach its target 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.
Premier Oiwoh, managing director and chief executive officer of NIBSS, gave a technical overview of the platform, noting that it aligns with global anti-money laundering (AML) and know your customer (KYC) standards.
Oiwoh said the platform is built to ensure security, transparency, and ease of use for Nigerians abroad.
Also speaking, Muhammad Abdullahi, deputy governor, economic policy at the CBN, described the NRBVN as a “transformational tool” that would strengthen economic ties with the diaspora.
“Together, we stand at the threshold of a new era, poised to deepen trust, enhance remittance growth, and forge a stronger connection between Nigeria and its global citizens,” he said.
The NRBVN is part of a broader framework that includes the non-resident ordinary account and the non-resident Nigerian investment account, which provide Nigerians abroad with access to savings, mortgages, pensions, insurance, and investment products in the Nigerian financial ecosystem.
