The Central Bank of Nigeria (CBN) has addressed public concerns over alleged hidden charges associated with the newly launched Non-Resident Bank Verification Number (NRBVN) platform, stating unequivocally that BVN enrolment for Nigerians residing in the country remains entirely free.
Speaking in Abuja, the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, emphasized that the fees being discussed pertain strictly to the NRBVN initiative, which is targeted at Nigerians living abroad.
Clarifying further, Mrs. Sidi Ali explained that the nominal charge of approximately $50 is not a fee for obtaining a BVN itself, but a recoverable processing cost. “This fee covers remote biometric capture, due diligence verification, secure identity authentication, data management, and the technology infrastructure needed for overseas enrolment,” she stated.
She also highlighted that the $50 charge is a significant reduction from the previous $200 cost borne by Nigerians in the diaspora for similar services. “The associated fee of $50 is strictly a processing charge for remote verification and not a payment for the BVN itself,” she reiterated. “The NRBVN system is a voluntary, secure, and convenient solution for Nigerians in the diaspora.”
Mrs. Sidi Ali described viral social media reports suggesting new or excessive charges as “inaccurate and misleading,” urging the public to disregard such claims.
She stressed that the NRBVN is not merely a one-off service but a strategic component of the CBN’s broader digital transformation agenda. “It forms part of our efforts to enhance and broaden access to financial services for Nigerians globally,” she said.
The NRBVN platform, developed in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), enables Nigerians abroad to remotely obtain a BVN, eliminating the need for physical presence and reducing both time and travel expenses. According to the CBN, the initiative represents a significant leap in secure, efficient digital identity management in line with global best practices.
The bank encouraged the public to rely on verified information and consult only official communication channels of the CBN and NIBSS for accurate updates regarding the NRBVN.
