The Central Bank of Nigeria (CBN) has stated that there is no truth in reports that Nigerians residing outside the country are being charged $50 to obtain their Non-Resident Bank Verification Number (NRBVN).

The CBN Acting Director of Corporate Communications, Hakama Ali, explained that the nominal charge of approximately $50 is not a fee for obtaining a BVN, but rather a recoverable processing cost for remote biometric and due diligence verification.

She further clarified that there are no hidden charges related to the newly launched Non-Resident Bank Verification Number (NRBVN) platform, as the service remains entirely free of charge.

Naijaonpoint reports she made the clarification on Friday, where she noted that the $50 covers secure identity authentication, data handling, and technology infrastructure required to support the overseas enrolment process.

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

The CBN official described reports that Nigerians outside the country are being charged to obtain their BVN as misleading and inaccurate and advised that the reports be disregarded.

Ali explained that the NRBVN is more than just a one-time initiative, as it forms the foundation of the 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), marks 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.