The Central Bank of Nigeria, in collaboration with the Nigeria Inter-Bank Settlement System, has introduced the Non-Resident Bank Verification Number, NRBVN, to strengthen financial engagement with Nigerians abroad.
Unveiled in Abuja, the initiative aims to simplify access to banking services for the diaspora, enabling remote account opening, smoother remittances, and greater participation in local investment opportunities.
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CBN Deputy Governor for Economic Policy, Muhammad Sani Abdullahi, described the NRBVN as a landmark move to close the gap between global Nigerians and the domestic financial system.
Bank officials believe the platform will reduce bureaucratic hurdles and unlock the potential of Nigeria’s diaspora, which plays a crucial role in national development through remittances and cross-border investments.
The CBN expects the scheme to enhance financial inclusion, streamline engagement, and deepen trust between Nigeria and its global citizens.
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