The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), has unveiled a new digital platform, the Non-Resident Bank Verification Number (NRBVN), designed specifically for Nigerians living abroad.
The platform, launched on Tuesday, enables Nigerians in the diaspora to register for a BVN remotely, eliminating the need to be physically present in Nigeria.
It is expected to support the CBN’s goal of boosting diaspora remittances to \$1 billion monthly, or approximately \$12 billion annually.
At the launch event in Abuja, which brought together financial sector leaders including commercial bank CEOs, CBN Governor Olayemi Cardoso described the initiative as a significant step forward in advancing financial inclusion. He said the NRBVN platform serves as a vital link between Nigeria and its citizens abroad.
Cardoso also noted that the new system could help lower remittance costs across Sub-Saharan Africa and reaffirmed the CBN’s commitment to working with stakeholders to further improve the platform. [CONTINUE READING HERE]>>>>>
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