Nigerians living abroad can now obtain a Bank Verification Number (BVN) without returning home, following a new initiative launched by the Central Bank of Nigeria (CBN) in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS).
However, the convenience comes with a price tag of $50 (about ₦80,000).
The Non-Resident Bank Verification Number (NRBVN) platform, introduced on May 13, allows Nigerians in the diaspora to register for BVN remotely, marking a major shift from the previous policy that required applicants to be physically present in Nigeria.
How to Apply
Interested applicants should visit https://nibss-plc.com.ng/nrbvn/ and register using a valid email address. After sign-up, a verification link is sent to the email, prompting users to create a password and activate two-factor authentication using an app like Google Authenticator.
Applicants can then choose their identity category: Nigerian (No BVN), Nigerian (BVN), or Nigerian by Descent.
Required Documents
Registration requires the upload of a valid Nigerian passport. If unavailable, alternatives include:
- Expired Nigerian passport
- Valid foreign passport or residence permit
- Green card
- Utility bill
- Work permit or employment letter
- Tax records from the country of residence
- Foreign bank account statements
A non-refundable $50 registration fee is payable via Visa or Mastercard through the Tazapay payment gateway, unlike in Nigeria, where BVN registration is free.
Once payment and documentation are complete, the platform verifies the application and issues the BVN within 72 hours if approved.
Why It Matters
CBN Governor Olayemi Cardoso explained that the move is aimed at boosting financial inclusion, tightening Know-Your-Customer (KYC) controls, and reducing identity fraud. It also enhances regulatory oversight over fintechs and improves tracking of diaspora remittances.
What you should know
Nigerians abroad can now register for a BVN without traveling home. The process costs $50 and takes up to 72 hours for approval. The goal is to improve financial access, KYC compliance, and secure diaspora transactions.
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