The Central Bank of Nigeria (CBN) has addressed concerns raised about the Non-Resident Bank Verification Number (NRBVN) platform. The bank made it clear that Nigerians living in Nigeria can still register for BVN without paying any fee. There are no hidden charges for local residents.
CBN’s acting director of corporate communications, Mrs. Hakama Sidi Ali, explained that the recently discussed fee only applies to Nigerians who live abroad. These individuals may choose to register through the NRBVN platform and are required to pay around $50. She pointed out that this payment is not for getting the BVN itself, but to cover the cost of remote processing and verifying their identity.
According to Mrs. Sidi Ali, the $50 fee helps support the cost of safely managing user data, confirming identity, and maintaining the digital system used to enrol Nigerians abroad. She also mentioned that this is much cheaper than before, as some Nigerians in the diaspora used to pay as much as $200 for the same service. This fee reduction is aimed at making the process easier and more affordable.
She emphasized again that the $50 is only for processing purposes and not for the BVN. The NRBVN is meant to be a secure and convenient option for Nigerians living outside the country to complete their BVN registration.
Mrs. Sidi Ali also advised the public not to believe the false stories spreading on social media. She said there are no new or extra charges being added for Nigerians. The NRBVN is part of the CBN’s plan to bring financial services to more Nigerians, especially those living outside the country.
The NRBVN platform was created in partnership with the Nigeria Inter-Bank Settlement System (NIBSS). It allows Nigerians living abroad to enrol for BVN without traveling to Nigeria. The system also helps save travel costs and makes sure the process follows global rules for digital ID.
Finally, Mrs. Sidi Ali encouraged everyone to get accurate information about the NRBVN only from the official websites and channels of the CBN and NIBSS.
