Nigerians in the diaspora would have to spend N80,000 ($50) to receive a Non-Resident Bank Verification Number (NRBVN) remotely, after the Central Bank of Nigeria’s (CBN) recent introduction of the NRBVN platform.
The CBN, in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), developed the NRBVN platform to make it easier for Nigerians residing abroad to get their Bank Verification Number (BVN) online, removing the requirement for in-person verification.
The NRBVN program is seen as a significant milestone in the CBN’s attempts to increase financial inclusion and engage Nigerian diaspora members into the country’s economic activity.