CBN clarifies a cost of $ 50 NRBVN for Nigerians in the Diaspora

The Nigerian Central Bank (CBN) has clarified the latest speculation about the cost of $ 50 related to the newly launched bank verification number platform (NRBVN).

Bank Apex stressed that no hidden fees were introduced and that BVN registration for Nigerians who live in the country remains fully free.

Acting Director of Bank Corporate Communication, Ny. Hakama Sidi Ali, explained that the cost referred to the report only applies to the newly launched BVN (NRBVN) initiative, a service specifically designed for Nigerians who live in the Diaspora.

According to him, the nominal cost of around $ 50 is not the cost to get BVN, but rather the process of processing that can be restored for biometric verification and long -distance complete test. This fee, he said, includes a safe identity authentication, data handling, and technological infrastructure needed to support the registration process abroad.

“Nigeria in the diaspora previously paid $ 200. The cost related to $ 50 is the process of processing for remote verification and not payment for BVN itself,” he said, adding that “NRBVN system is a voluntary, safe and comfortable solution for Nigeria in the Diaspora.”

He described the report circulating on social media as a suggestion for the imposition of new or excessive accusations to Nigerians as inaccurate and misleading, and suggested that they be ignored.

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He added that NRBVN was more than just one time, it forming a broader foundation of a digital bank transformation strategy aimed at improving and expanding access to financial services for Nigerians globally.

He urged the public to verify all information related to NRBVN through the official CBN and NIBSS communication channels.

The NRBVN platform, was launched in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), marked a transformative step in allowing Nigerians who lived abroad to get bank verification numbers remotely.

With this system, Nigerians can access banking services from anywhere, save time and travel costs while ensuring safe and safe transactions.

NRBVN solutions eliminate obstacles by providing faster and more efficient alternatives that are in harmony with the best global practice in digital identity management.

By: Babajide Okeowo