By Joseph Inokotong
The Central Bank of Nigeria (CBN) has clarified recent speculations regarding charges associated with the newly launched Non-Resident Bank Verification Number (NRBVN) platform, affirming that no hidden fees have been introduced and that BVN enrolment for Nigerians residing within the country remains completely free of charge.
Making the clarification in Abuja, the Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, explained that the fee mentioned in the reports applies solely to the NRBVN initiative—a service specifically designed for Nigerians living in the diaspora.
According to her, the nominal charge of approximately $50 is not a fee for obtaining a BVN, but rather a recoverable processing cost for remote biometric and due diligence verification.
She noted that this cost covers secure identity authentication, data handling, and the technological infrastructure required to support the overseas enrolment process.
“Nigerians in the diaspora previously paid $200. The associated fee of $50 is strictly a processing charge for remote verification, not a payment for the BVN itself,” she stated, adding that “the NRBVN system is a voluntary, secure, and convenient solution for Nigerians living abroad.”
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She further described reports circulating on social media suggesting the imposition of new or excessive charges on Nigerians as inaccurate and misleading, advising the public to disregard them.
She added that the NRBVN is more than a one-time initiative; it forms the foundation of the Bank’s broader digital transformation strategy aimed at enhancing and expanding access to financial services for Nigerians globally.
The NRBVN platform—launched in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS)—represents a transformative step in enabling Nigerians abroad to obtain a BVN remotely. Through this system, they can access banking services from anywhere, saving time and travel costs while ensuring secure and efficient transactions.
The NRBVN solution eliminates barriers by offering a faster, more efficient alternative aligned with global best practices in digital identity management.
Mrs. Sidi Ali therefore urged the public to verify all information regarding the NRBVN through the official communication channels of the CBN and NIBSS.
NIGERIAN TRIBUNE