CBN partners NIBSS to lunch NRBVN

In a bold statement to ensure financial inclusion, the Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) on Tuesday launched the Non-Resident BVN (NRBVN) — a secure digital gateway to banking for Nigerians abroad.

The Governor, CBN, Mr Olayemi Cardoso at the lunching in Abuja said the NRBVN platform is a major milestone in Nigeria’s financial inclusion drive and reflects a commitment to innovation, inclusive growth, and economic integration.

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

He asserted that 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.

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

He restated the CBN’s target of $1 billion in monthly remittances.

He emphasised the need for all stakeholders to comply with the FX Code and regulatory guidelines to preserve market stability and trust.

“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”.- Cardoso added.

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