The Central Bank of Nigeria (CBN) has clarified that there are no hidden charges for Bank Verification Number (BVN) transactions within Nigeria.
However, a nominal fee of approximately $50 applies to the Non-Resident BVN (NRBVN) platform, designed for Nigerians living abroad. BVN enrollment for Nigerians residing in Nigeria remains free of charge.
A $50 processing charge applies to remote biometric and due diligence verification for Nigerians in the diaspora.
The platform provides a secure and convenient solution for Nigerians abroad to access banking services remotely.
The NRBVN forms part of the CBN’s broader strategy to improve and expand access to financial services for Nigerians globally.
The CBN has urged the public to verify information related to the NRBVN through official communication channels to avoid misinformation.
