CBN Affirms Free BVN Enrolment for Nigerians at Home, Clarifies Diaspora Charges

The Central Bank of Nigeria (CBN) has moved to clear the air regarding concerns over the recently launched Non-Resident Bank Verification Number (NRBVN) platform, asserting that there are no hidden fees involved and emphasizing that BVN enrolment remains completely free for Nigerians residing within the country.

Speaking in Abuja, the bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, clarified that the fee recently mentioned in various media outlets pertains exclusively to Nigerians living abroad who choose to register through the NRBVN platform. She stressed that the roughly $50 cost being referenced is not a fee for the BVN itself but rather a recoverable processing expense required to support remote biometric enrolment and thorough identity verification.

Mrs. Sidi Ali further explained that this fee is used to maintain secure identity authentication systems, effective data management, and the technological framework essential for the overseas enrolment procedure. She also pointed out that, in the past, Nigerians in the diaspora paid as much as $200 for similar services, and the newly introduced $50 charge represents a significant reduction aimed at making the process more accessible.

“In reality, the $50 charge is purely a processing fee for remote biometric verification,” she said. “It is not a payment for the BVN. The NRBVN platform offers a secure, voluntary, and user-friendly way for Nigerians in the diaspora to enrol from abroad.”

She rejected the misinformation spreading on social media as misleading and incorrect, urging members of the public to disregard any claims that suggest new or excessive charges are being imposed on Nigerians. She reaffirmed that the NRBVN platform plays a vital role in the CBN’s broader digital transformation strategy, designed to expand access to financial services for Nigerians around the world.

The NRBVN system, developed in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), allows Nigerians residing overseas to obtain their BVN without needing to physically visit a bank branch in Nigeria. The remote platform enhances convenience by eliminating travel expenses and enabling secure access to financial services, in alignment with global standards for digital identity verification.

Mrs. Sidi Ali urged Nigerians to rely solely on official communications from the CBN and NIBSS for accurate and up-to-date information regarding the NRBVN initiative.