US EditionCBN launches BVN platform for Nigerians in diaspora, targets $1bn monthly remittances
- On Tuesday in Abuja, the Central Bank of Nigeria introduced a digital platform that allows Nigerians living abroad to register for their Bank Verification Number remotely.
- This initiative responds to challenges Nigerians overseas faced from having to appear physically in Nigeria for BVN registration, a situation previously limiting their financial access.
- The platform implements rigorous KYC, AML, and enhanced due diligence protocols, using identity documents like passports and utility bills to securely verify applicants globally.
- CBN Governor Olayemi Cardoso expressed optimism that the platform, supported by recent reforms, would enable the Bank to achieve its goal of generating $1 billion each month in diaspora remittances by encouraging the use of formal and affordable channels.
- The NRBVN aims to deepen financial inclusion, strengthen Nigeria’s economic ties with its diaspora, and enhance remittance flows, fostering national inclusion, innovation, and shared prosperity.
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CBN Launches BVN Platform For Nigerians In Diaspora, Targets $1bn Monthly Remittances - Thepodiummedia
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the non-resident bank verification number (NRBVN) platform to ease access to financial services for Nigerians in the diaspora. Unveiled on Tuesday in Abuja, the digital platform allows Nigerians abroad to obtain their BVN remotely, eliminating the long-standing requirement of physical presence in Nigeria. Speaking at the launch…
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The Nigerians in Diaspora Organisation (NIDO) Germany e.V. will hold its Annual General Meeting (AGM) on 14 June in Berlin. The gathering, which will be a hybrid event, will provide members with the opportunity to reflect on the state of the organisation and discuss current developments in Nigeria. The 2025 AGM is especially significant for NIDO Germany. Although the organisation was officially registered in Germany on 26 February 2004, it was f…
CBN Launches Digital BVN Platform for Nigerians in Diaspora
May 14, (THEWILL) – In a move to deepen financial inclusion and boost diaspora remittances, the Central Bank of Nigeria (CBN) on Tuesday unveiled a digital platform that enables Nigerians abroad to obtain a Bank Verification Number (BVN) without needing to visit Nigeria physically. The initiative, tagged the Non-Resident Bank Verification Number (NRBVN), was developed
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