CBN introduces new processing fee as the report shows how to register for NRBVN

• Nigerians surviving overseas volition present wage N80,000, astir $50 processing fee, to get their Non-Resident Bank Verification Number (NRBVN)
• The Central Bank of Nigeria launched the NRBVN successful collaboration with the Nigerian Inter-Bank Settlement System
• The CBN disclosed that Nigerians overseas tin registry for their NRBVN by visiting  nrbvn.com oregon https//nrbvn.com to make an account

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

Diaspora Nigerians volition present wage astir $50, N80,000, to get their Non-Resident Bank Verification Number (NRBVN).

The Central Bank of Nigeria (CBN) launched the NRBVN level precocious successful concern with the Nigeria Inter-Bank Settlement System (NIBSS).

Olayemi Cardoso's CBN targets $1 cardinal successful diaspora remittances successful 2025. Credit: CBN
Source: Twitter

CBN gives the crushed for the NRBVN launch

The determination was designed to simplify the process for Nigerians overseas to entree BVN registration without visiting the country.

Despite the BVN being escaped successful Nigeria, applicants from the Diaspora volition wage a processing fee. The improvement has drawn varied reactions from diasporan Nigerians.

According to reports, the apex slope sees the caller level arsenic portion of its larger purpose to summation fiscal inclusion and integrate diaspora Nigerians into the section economy.

Via the platform, Nigerians surviving overseas can present entree Non-Resident Ordinary Accounts (NROA) and the Non-Resident Nigerian Investment Accounts (NRNIA), allowing them to save, invest, and prosecute with Nigeria’s fiscal assemblage seamlessly.

How to get NRBVN

The study says that these services see entree to mortgages, insurance, pensions, and superior marketplace opportunities, with flexibility to repatriate concern returns.

Applicants indispensable usage the portal nrbvn.com oregon https//nrbvn.com to make an relationship with an email and password, utilizing Google Authenticator to make a QR code.

CBN said applicants should proceed to take their idiosyncratic benignant aft email verification and supply the indispensable documentation, including a Nigerian passport, impervious of residency abroad, and a inferior bill.

CBN sets $1 cardinal people for diaspora remittances

Applicants tin besides adhd different optional documents specified arsenic enactment permits, impervious of employment, oregon taxation records.

After confirmation of each documents, applicants indispensable wage the $50 interest via a outgo gateway platform, taxable their idiosyncratic details, implicit a liveness test, and verify their telephone fig earlier submission.

Nigerians successful diaspora to wage processing interest for BVN registration. Credit: NIBBS
Source: UGC

The fiscal assemblage regulator acceptable a extremity of boosting diaspora remittances to $1 cardinal done the caller level and aims to fortify Nigeria's FX reserves.

New information shows a 2.14% emergence successful BVN enrolment

Legit.ng earlier reported that caller information released by the Nigeria Inter-Bank Settlement System, the fig of BVNs issued successful Nigeria has climbed to 64.8 cardinal successful January 2025.

This represented a 2.14% summation from the 63.5 cardinal recorded astatine the extremity of 2024. The Bank Verification Number (BVN) is an 11-digit unsocial individuality for each idiosyncratic crossed the Nigerian Banking industry.

The Central Bank of Nigeria, successful collaboration with each banks, launched the BVN connected February 14 2014. BVN offers a unsocial individuality that cuts crossed the Nigerian Banking manufacture for casual recognition and verification astatine assorted points of banking operations.

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Source: Legit.ng