The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), has officially launched a secure digital platform for banking access for Nigerians living overseas, named the Non-Resident BVN (NRBVN).
The central bank announced on its X handle on Wednesday that the CBN Governor, Olayemi Cardoso, highlighted that this significant move aims to promote financial inclusion. He emphasized that the NRBVN platform represents a crucial milestone in Nigeria’s efforts toward financial inclusion, demonstrating a commitment to innovation, inclusive development, and economic integration.
According to the statement, Nigerians worldwide can now efficiently and securely acquire their BVN remotely with the implementation of digital verification and comprehensive Know Your Customer (KYC) protocols.
Cardoso further noted that the platform will allows Nigerians abroad to open bank accounts, transfer funds securely, and utilize banking services with enhanced convenience and reduced costs.
The CBN governor further urged Nigerian banks to create customised products for the Diaspora, asserting that such innovations will enhance financial inclusion and significantly increase remittance flows through official channels.
Governor Cardoso has restated the CBN’s target of $1 billion in monthly remittances.
He has emphasised the need for all stakeholders to comply with the FX Code and regulatory guidelines to preserve market stability and trust.
“The NRBVN is a dynamic, evolving platform—a bridge connecting Nigeria with its global citizens—and reaffirms the Bank’s commitment to lowering remittance costs and expanding financial inclusion for all Nigerians,” Cardoso noted.