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CBN Explains NRBVN Charges for Nigerians in Diaspora, Reaffirms Commitment to Financial Inclusion

The Central Bank of Nigeria (CBN) has clarified recent speculations regarding charges related to the newly launched Non-Resident Bank Verification Number (NRBVN) platform.

The bank’s Acting Director of Corporate Communications, Hakama Sidi Ali, explained that the nominal charge of approximately $50 applies solely to the NRBVN initiative, designed for Nigerians living in the diaspora.

Sidi Ali clarified that the $50 charge is a recoverable processing cost for remote biometric and due diligence verification, covering secure identity authentication, data handling, and technology infrastructure required to support the overseas enrolment process.

She emphasized that Nigerians in the diaspora previously paid $200 for similar services, and the current charge is a reduced fee for processing.

The NRBVN system is a voluntary, secure, and convenient solution for Nigerians in the diaspora, allowing them to obtain a Bank Verification Number remotely.

The platform, launched in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), marks a transformative step in enabling Nigerians living overseas to access banking services from anywhere.

The CBN reaffirms its commitment to financial inclusion, and the NRBVN platform forms part of the bank’s broader digital transformation strategy aimed at improving and expanding access to financial services for Nigerians globally.

Sidi Ali urged the public to verify all information related to the NRBVN through the CBN and NIBSS’ official communication channels.

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