Nigerians living abroad will now be required to pay $50 (approximately ₦80,000) to obtain a Non-Resident Bank Verification Number, following the recent launch of the platform by the Central Bank of Nigeria in partnership with the Nigeria Inter-Bank Settlement System (NIBSS).
The NRBVN initiative allows Nigerians in the diaspora to remotely register for a Bank Verification Number without the need to physically visit Nigeria, a move aimed at improving financial inclusion and integrating the diaspora into the country’s formal financial ecosystem.
Eligible applicants can begin the registration process by visiting nrbvn.com. Users must sign up using an email address, create a password, and authenticate via a QR code from Google Authenticator. Once verified through their email, they will be prompted to agree to the terms and provide consent.
Applicants will then select their user category — including Nigerians without BVN, Nigerians with BVN, and Nigerians by descent. For first-time registrants, the platform lists mandatory documentation, including a Nigerian passport (valid or expired), proof of foreign residency (e.g., residence permit or foreign passport), and a recent utility bill. Optional documents include work permits, tax records, and foreign bank statements.
The next step involves a $50 application fee payment via the Tazapay secure payment gateway. After payment, users upload the required documents, input personal details, and complete a liveness test to confirm their identity. A final summary page allows applicants to verify the accuracy of their information before submission.
Unlike their counterparts abroad, Nigerians residing in the country are not required to pay for BVN registration, which remains free at local bank branches and registration centres.
The NRBVN platform is also part of the CBN’s broader strategy to boost remittance inflows, with the apex bank targeting $1 billion in monthly remittances. In 2024, Nigeria recorded $1.92 billion in direct diaspora remittances, a slight decline from $1.98 billion in 2023.
CBN Governor Olayemi Cardoso expressed optimism that the new platform would help Nigeria achieve its remittance goals by offering a more secure, convenient, and cost-effective channel for diaspora Nigerians.
Financial experts believe the NRBVN rollout could help formalize more remittance flows, reducing the reliance on informal channels and increasing the country’s foreign exchange reserves.
The move represents a significant step in leveraging technology to connect the Nigerian diaspora to the home economy while strengthening the financial sector’s digital infrastructure.
