The Central Bank of Nigeria (CBN) has launched a new digital platform that allows Nigerians living abroad to register for a Bank Verification Number (BVN) without coming home.
The Non-Resident BVN (NRBVN) platform, developed in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), was officially unveiled on Tuesday in Abuja.
CBN Governor, Mr. Yemi Cardoso, described the move as a major step toward financial inclusion for Nigerians living overseas.
“For too long, many Nigerians abroad have found it hard to access banking services back home because of physical verification requirements. The NRBVN solves this by allowing secure digital registration from anywhere in the world,” Cardoso said.
The platform is expected to improve access to financial services such as savings, mortgages, insurance, pensions, and investments.
With this initiative, the CBN hopes to boost foreign remittances into the country. Official inflows rose from \$3.3 billion in 2023 to \$4.73 billion in 2024. Cardoso said the bank now targets \$1 billion in monthly remittances.
The system also meets international security standards, using strict Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols to ensure safety and transparency.
Deputy Governor of CBN, Muhammad Abdullahi, said the platform would help strengthen ties between Nigeria and its diaspora, encouraging greater investment and national development.
“This platform simplifies banking for Nigerians abroad and promotes a sense of belonging,” Abdullahi said.
The launch event also featured a presentation by NIBSS Managing Director, Premier Oiwoh, and a panel discussion with key financial industry players.
The NRBVN is part of a larger initiative that includes Non-Resident Ordinary Accounts (NROA) and Non-Resident Nigerian Investment Accounts (NRNIA), giving diaspora Nigerians more ways to engage with the Nigerian economy.
