The Central Bank of Nigeria (CBN), in collaboration with the
Nigeria Inter-Bank Settlement System (NIBSS), has launched the non-resident
bank verification number (NRBVN) platform to ease access to financial services
for Nigerians in the diaspora.
Unveiled on Tuesday in Abuja, the digital platform allows
Nigerians abroad to obtain their BVN remotely, eliminating the long-standing
requirement of physical presence in Nigeria.
Speaking at the launch, Olayemi Cardoso, governor of CBN,
described the NRBVN as a major leap in the apex bank’s financial inclusion
agenda, particularly for Nigerians living outside the country.
“For too long, many Nigerians abroad have faced difficulties
accessing financial services at home due to physical verification
requirements,” Cardoso said.
“The NRBVN changes that. Through secure digital verification
and robust KYC processes, Nigerians worldwide can now access financial services
more easily and affordably.”
Cardoso said the platform would not only boost access but
also drive innovation and deepen trust in Nigeria’s financial system.
“We are building a secure, efficient, and inclusive
financial ecosystem for Nigerians globally,” he said.
“This platform is not just about financial access—it’s about
national inclusion, innovation, and shared prosperity.”
Highlighting the importance of diaspora remittances, the CBN
governor said inflows rose from $3.3 billion in 2023 to $4.73 billion in 2024,
driven in part by recent foreign exchange reforms.
He expressed optimism that the NRBVN, along with
complementary policy measures, could help Nigeria reach its target of $1
billion in monthly remittances.
“With the introduction of NRBVN and complementary policy
measures, we are optimistic about achieving our ambitious target of \$1bn in
monthly remittance flows,” Cardoso added.
NRBVN COMPLIES WITH
GLOBAL AML, KYC STANDARDS
Premier Oiwoh, managing director and chief executive officer
of NIBSS, gave a technical overview of the platform, noting that it aligns with
global anti-money laundering (AML) and know your customer (KYC) standards.
Oiwoh said the platform is built to ensure security,
transparency, and ease of use for Nigerians abroad.
Also speaking, Muhammad Abdullahi, deputy governor, economic
policy at the CBN, described the NRBVN as a “transformational tool” that would
strengthen economic ties with the diaspora.
“Together, we stand at the threshold of a new era, poised to
deepen trust, enhance remittance growth, and forge a stronger connection
between Nigeria and its global citizens,” he said.
The NRBVN is part of a broader framework that includes the
non-resident ordinary account and the non-resident Nigerian investment account,
which provide Nigerians abroad with access to savings, mortgages, pensions,
insurance, and investment products in the Nigerian financial ecosystem.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com