Nigerians living overseas no longer need to travel back home to register for a Bank Verification Number (BVN). On May 13, the Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), launched the Non-Resident Bank Verification Number (NRBVN) platform, allowing diaspora Nigerians to apply for BVN remotely at a cost of $50 (approximately ₦80,000).
How It Works
The new platform enables Nigerians abroad to register online, eliminating the previous requirement of being physically present in Nigeria for BVN registration. Here’s a step-by-step guide to applying:
- Visit the official portal: https://nibss-plc.com.ng/nrbvn/
- Register with a valid email address.
- Check your email for a verification link and click it to proceed.
- Create a password and scan a QR code using a two-factor authentication app like Google Authenticator.
- Choose your identity type:
- Nigerian (No BVN)
- Nigerian (BVN)
- Nigerian by Descent
Documents Required
To complete the process, applicants must upload a valid Nigerian passport. If that’s unavailable, the following alternatives are accepted:
- Expired Nigerian passport
- Valid foreign passport or residence permit
- Green card
- Utility bill
- Work permit and/or proof of employment
- Tax payment proof from the country of residence
- Foreign bank account statements
Payment Details
Applicants are required to pay a non-refundable $50 fee, which is only accepted via Visa or Mastercard through the Tazapay payment gateway. This is in sharp contrast to the free BVN registration process available to residents within Nigeria.
Processing Time
Once all documents are submitted and payment is made, the application is verified and screened on the platform. If successful, the BVN is issued within 72 hours.
Why It Matters
CBN Governor Olayemi Cardoso said the NRBVN is a major step towards enhancing financial access and inclusion for Nigerians abroad. It also strengthens Know-Your-Customer (KYC) compliance and aims to reduce identity fraud, especially as Nigeria increases regulatory oversight on fintech services and diaspora remittances.
The NRBVN is seen as a game-changer for diaspora Nigerians seeking easier access to financial services back home.
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. On May 13, the Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), launched the Non-Resident Bank Verification Number (NRBVN) platform, allowing diaspora Nigerians to apply for BVN remotely at a cost of $50 (approximately ₦80,000).){kind=link}