CBN CLARIFIES NRBVN FEES, SAYS BVN ENROLMENT IN NIGERIA REMAINS FREE
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By Aishat Momoh. O.
The Central Bank of Nigeria (CBN) has debunked circulating claims suggesting the introduction of new or excessive charges on Bank Verification Number (BVN) enrolment, affirming that the process remains entirely free for Nigerians residing within the country.
In a statement issued on Friday in Abuja, CBN’s Acting Director of Corporate Communications, Hakama Ali, clarified that the nominal fee being referenced in some reports applies only to the recently launched Non-Resident BVN (NRBVN) platform a service specifically designed for Nigerians living in the diaspora.
Ali explained that the fee, pegged at approximately $50, is not a charge for obtaining a BVN but rather a recoverable processing cost covering secure identity authentication, remote biometric verification, data handling, and the technology infrastructure required to support overseas enrolment.
“Previously, Nigerians in the Diaspora paid $200 for this process. The new $50 fee is strictly a processing charge and not a payment for the BVN itself,” she stated. “The NRBVN system is a voluntary, secure, and convenient solution for Nigerians in the diaspora.”
She emphasized that reports on social media suggesting the imposition of new or hidden charges are misleading and inaccurate, and should be disregarded.
The NRBVN initiative, launched in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), represents a major step in the CBN’s broader digital transformation strategy. The system enables Nigerians abroad to obtain a BVN remotely, allowing them to access banking services from anywhere in the world while eliminating the need for physical presence at enrolment centers.
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According to Ali, the NRBVN forms part of CBN’s commitment to expanding financial inclusion and aligning with global best practices in digital identity management.
She urged the public to verify any information related to the NRBVN through the official channels of the CBN and NIBSS, cautioning against reliance on unofficial sources.
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