Nigerians living abroad are now required to pay $50 (about N80,000) to register for the bank verification number (BVN), according to guidelines released by the authorities.
On May 13, the CBN, in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), launched the non-resident bank verification number (NRBVN) platform to ease access to financial services for Nigerians in the diaspora.
The NRBVN platform allows Nigerians abroad to obtain their BVN remotely, eliminating the long-standing requirement of physical presence in Nigeria.
Olayemi Cardoso, governor of CBN, said the NRBVN is aimed at increasing financial inclusion, particularly for Nigerians living outside the country.
Applicants can access the new platform and register with a recognised email by visiting the link https://nibss-plc.com.ng/nrbvn/.
After registration, a link is sent to the email address provided to activate the applicant’s account. The link also redirects the applicant to another page for password creation.
The next process requires them to scan a QRcode using any two-factor authentication (2FA) app like Google Authenticator.
When this is successfully achieved, applicants are taken to a page with options to “Onboard, Open Bank Account, or Remit Money.” From here, applicants select their appropriate user type status from three options: ‘Nigerian, no BVN’, ‘Nigerian, BVN’, and ‘Nigerian by descent’.
To use any of the services on the platform, a valid passport is the primary requirement, according to the portal. However, where this is not available, other documents that can be used are the Nigerian passport (valid or expired), proof of foreign residency (valid foreign passport, residence permit, green card etc.), utility bill, work permit and/or proof of employment, proof of tax payment in the country of residence, and foreign bank account statements.
On the new portal, applicants are notified of a mandatory $50 non-refundable fee to process their registration using either a Visa card or a Mastercard. This contrasts with the free BVN registration for Nigerians living in the country.
After confirming the information, users are redirected to a secure Tazapay checkout page to complete the transaction using their debit or credit cards.
The payment portal, powered by international gateway provider Tazapay, was launched to process applications from diaspora residents who are unable to travel to Nigeria for biometric enrollment.
Once all the required information and documents are provided and payments made, the NRBVN system will validate and screen the information. Once approved, an NRBVN will be provided within 72 hours.
As of May 2025, with the naira trading at around N1,600 to the dollar, the BVN registration fee represents a cost of approximately N80,000 per applicant.
The initiative is expected to enhance know-your-customer (KYC) compliance and reduce identity fraud across Nigeria’s banking system, particularly in the face of tightening regulatory oversight over fintech operations, foreign exchange (FX) inflows, and diaspora remittances.
