Non-Resident BVN (NRBVN) Framework Launch

In a bold statement to ensure financial inclusion, the Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has formally launched the Non-Resident BVN (NRBVN), a secure digital gateway to banking for Nigerians abroad.
 
Governor Olayemi Cardoso firmly stated the following: 

1. The launch of the NRBVN platform is a major milestone in Nigeria’s financial inclusion drive and reflects a commitment to innovation, inclusive growth, and economic integration.

2. ⁠Through digital verification and robust Know Your Customer (KYC) processes, Nigerians across the globe can now remotely obtain their BVN swiftly and securely.

3. ⁠The NRBVN offers a single digital gateway that enables Nigerians abroad to open accounts, send funds securely, and access banking services with greater convenience and lower costs.

4. ⁠Nigerian banks are urged to develop tailored products for the Diaspora, stating that such innovation will deepen inclusion and significantly boost remittance flows through formal channels.

5. ⁠The CBN’s target of $1 billion in monthly remittances. He has emphasised the need for all stakeholders to comply with the FX Code and regulatory guidelines to preserve market stability and trust.

6. ⁠The NRBVN is a dynamic, evolving platform, a bridge connecting Nigeria with its global citizens and reaffirms the Bank’s commitment to lowering remittance costs and expanding financial inclusion for all Nigerians.

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