•Declares resident biometrics enrollment remains free of charge

James Emejoin Abuja

The Central Bank of Nigeria (CBN) yesterday said no hidden fees have been introduced to the newly launched Non-Resident Bank Verification Number (NRBVN) platform.

The central bank also maintained that BVN enrolment for Nigerians residing within the country remained entirely free of charge.

CBN Acting Director, Corporate Communications Department, Mrs. HakamaSidi Ali, made the clarification in a statement, following recent speculations regarding charges related to the initiatives.

She explained that the fee referenced in recent reports applies solely to the recently launched NRBVN initiative, a service designed specifically for Nigerians living in the Diaspora.

SidiAli, further explained that the nominal charge of about $50 was not a fee for obtaining a BVN, but rather a recoverable processing cost for remote biometric and due diligence verification.

The cost, she noted, covers secure identity authentication, data handling, and technology infrastructure required to support the overseas enrolment process.

According to the CBN’s Acting Director, “Nigerians in the diaspora previously paid $200. The associated fee of $50 is strictly a processing charge for remote verification and not a payment for the BVN itself.

“The NRBVN system is a voluntary, secure and convenient solution for Nigerians in the diaspora.”

She described the reports circulating on social media, suggesting the imposition of new or excessive charges on Nigerians as inaccurate and misleading.

Sidi Ali therefore, advised that the misleading reports should be disregarded.

Specifically, she pointed out that NRBVN was more than just a one-time initiative, adding that it forms the foundation of the central bank’s broader digital transformation strategy aimed at improving and expanding access to financial services for Nigerians globally.

The NRBVN platform, launched in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), marked a transformative step in enabling Nigerians living overseas to obtain a Bank Verification Number remotely.

With the system, Nigerians can access banking services from anywhere, saving time and travel costs while ensuring safe and secure transactions.

The NRBVN solution eliminates barriers by providing a faster, more efficient alternative that aligns with global best practices in digital identity management.

Sidi Ali, alsiurged the public to verify all information related to the NRBVN through the CBN and NIBSS’ official communication channels.

​