The Central Bank of Nigeria (CBN) has clarified that there are no hidden charges associated with the newly introduced Non-Resident Bank Verification Number (NRBVN) platform.
In a statement issued on Monday, the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, addressed recent speculations about alleged fees tied to the initiative. She emphasized that BVN enrollment for Nigerians residing within the country remains entirely free.
Sidi Ali explained that the reported $50 charge applies only to the NRBVN service, which is specifically designed for Nigerians living in the diaspora. She further noted that this amount is not a fee for obtaining a BVN, but rather a recoverable processing cost covering remote biometric capture, identity authentication, data handling, and supporting infrastructure.
“Nigerians in the diaspora previously paid $200. The $50 fee is strictly a processing charge for remote verification, not for the BVN itself,” she said. “The NRBVN is a voluntary, secure, and convenient solution for Nigerians abroad.”
She dismissed viral social media reports suggesting the introduction of new or excessive charges as false and misleading, urging the public to rely on official communications from the CBN and the Nigeria Inter-Bank Settlement System (NIBSS) for accurate information.
Highlighting the strategic relevance of the NRBVN platform, Sidi Ali said the initiative is part of the CBN’s broader digital transformation agenda to improve access to financial services for Nigerians globally. Launched in collaboration with NIBSS, the platform allows Nigerians in the diaspora to remotely enroll for a BVN without traveling home.
The solution is expected to enhance financial inclusion by removing barriers and aligning Nigeria’s digital identity ecosystem with global best practices.
Sidi Ali encouraged the public to verify all information related to the NRBVN through the official websites and communication channels of the CBN and NIBSS.
