The Central Bank of Nigeria (CBN) has clarified that enrolment for the Bank Verification Number (BVN) remains free for Nigerians residing in the country, dismissing social media claims about new or hidden charges as false and misleading.
Speaking in Abuja, the Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, explained that the fee referenced in recent reports applies only to the newly launched Non-Resident BVN (NRBVN) platform—a voluntary service designed exclusively for Nigerians in the diaspora.
She noted that the roughly $50 fee is not a charge for obtaining a BVN itself but a recoverable processing cost that covers remote biometric capture, due diligence, secure identity verification, and the technology infrastructure required for overseas enrolment.
“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,” she said. “The NRBVN system is voluntary, secure and convenient for Nigerians abroad.”
Mrs. Sidi Ali described circulating reports suggesting the imposition of new or excessive charges on Nigerians as inaccurate.
She advised the public to disregard them and verify information through CBN and the Nigeria Inter-Bank Settlement System (NIBSS) official channels.
The NRBVN platform, launched in collaboration with NIBSS, represents a major step in the Bank’s digital transformation strategy.
It enables Nigerians living overseas to obtain their BVN remotely, saving time and travel costs while ensuring secure transactions in line with global best practices in digital identity management.
(independent)
