Central Bank of Nigeria (CBN) has partnered with the Nigeria Inter-Bank Settlement System (NIBSS) to launch the Non-Resident Bank Verification Number (NRBVN) platform.
Gatekeepers News reports that the digital platform allows Nigerians living abroad to obtain a Bank Verification Number (BVN) remotely, eliminating the need for physical presence in Nigeria.
CBN Governor Olayemi Cardoso emphasised that the NRBVN is a significant step towards enhancing financial inclusion and strengthening connections with the global Nigerian community. “For too long, many Nigerians abroad have faced difficulties accessing financial services at home due to physical verification requirements. The NRBVN changes that,” he said.
“Through secure digital verification and robust Know Your Customer (KYC) processes, Nigerians worldwide can now access financial services more easily and affordably.”
The NRBVN platform is designed to boost remittance inflows, which have already risen from $3.3 billion in 2023 to $4.73 billion in 2024. The CBN aims to achieve $1 billion in monthly remittances, contributing to an annual target of about $12 billion.
Cardoso expressed optimism about reaching this target, citing growing trust and convenience in formal remittance channels.
“We are building a secure, efficient, and inclusive financial ecosystem for Nigerians globally. This platform is not just about financial access, it’s about national inclusion, innovation, and shared prosperity,” Cardoso added.
Chairman/Chief Executive of Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, described the NRBVN as a “game changer”.
