The Central Bank of Nigeria (CBN) has issued an official clarification debunking claims of hidden BVN enrolment charges e for residents in Nigeria. The apex bank emphasized that BVN registration remains entirely free for Nigerians living in the country, despite misleading reports circulating on social media.
According to a statement released on Monday, July 7, 2025, by the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Ali, the $50 charge applies exclusively to Nigerians in the diaspora using the newly introduced Non-Resident BVN (NRBVN) platform. She stressed that the fee is not a payment for obtaining a Bank Verification Number but a recoverable processing charge covering remote biometric verification, identity authentication, and digital infrastructure costs.
“Nigerians in the diaspora previously paid $200. The associated fee of $50 is strictly a processing charge for remote verification and not a payment for the BVN itself,” Ali explained. “The NRBVN is a voluntary, secure, and convenient solution for Nigerians living abroad.”
The CBN introduced the NRBVN platform in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) to enable Nigerians overseas conduct BVN enrolment remotely, eliminating the need to travel back to Nigeria. The new initiative is expected to enhance access to secure banking services, save time, and reduce overall costs for diaspora Nigerians.
Addressing concerns over local enrolment, the CBN reaffirmed that no Nigerian residing in the country is required to pay any fee for BVN registration. The apex bank described online claims suggesting otherwise as “inaccurate and misleading” and urged the public to rely only on official CBN or NIBSS communication channels for verified updates.
The bank reiterated that the NRBVN forms part of its broader digital transformation strategy aimed at expanding financial inclusion and improving digital access to financial services for Nigerians worldwide.
