“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.”
The Central Bank of Nigeria (CBN) has clarified that Nigerians living in the country are not subject to any charges for enrolling in the Bank Verification Number (BVN) scheme.
In a statement issued in Abuja, the bank’s acting director of corporate communications, Mrs. Hakama Sidi Ali, explained that the $50 fee applies solely to the Non-Resident BVN (NRBVN) platform, which was recently launched for Nigerians in the diaspora.
According to her, the fee is not for obtaining a BVN but is a “recoverable processing charge for remote biometric and due diligence verification.” She added, “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.”
Sidi Ali described online reports suggesting hidden or excessive fees as “inaccurate and misleading.” She emphasized that the NRBVN is a voluntary, secure system aligned with the CBN’s broader digital transformation strategy, enabling safe, remote access to banking for Nigerians abroad.