The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), has officially launched the Non-Resident Bank Verification Number (NRBVN). This is in a move to strengthen financial ties between Nigeria and its diaspora.
This initiative is designed to simplify banking access for Nigerians abroad, enhance investment opportunities, and stimulate remittance flows into the country.
Speaking at the ceremonial launch in Abuja, Tuesday, Muhammad Sani Abdullahi, CBN deputy governor for economic policy, hailed the NRBVN as a transformative step in bridging the gap between Nigeria’s global citizens and the domestic financial system.
“We are standing at the threshold of a new era,” Abdullahi said, addressing an audience of CBN Governor and his team, banking executives, fintech leaders, IMTOs, regulators, and members of the press.
“The NRBVN is more than just a technological innovation—it is a bold reaffirmation of our commitment to financial inclusion, economic resilience, and national pride.”
The NRBVN will provide secure remote access to financial services for Nigerians residing abroad, allowing them to open and maintain bank accounts seamlessly, participate in investment opportunities, and send remittances more efficiently.
By streamlining these processes, the CBN aims to eliminate longstanding barriers of distance and bureaucracy that have historically limited diaspora engagement.
According to Abdullahi, the global Nigerian community is vast, resourceful, and deeply connected to the country’s development story.
“This initiative ensures that every Nigerian, regardless of geography, can be a full participant in the economic transformation of our country.”
The launch event featured a technical presentation by the Managing Director of NIBSS, outlining the operational framework of the NRBVN platform.
A panel discussion, moderated by the Deputy Governor for Financial System Stability, brought together top voices in finance, including the CEOs of Zenith and Access Bank, the Chairman of the Nigerian and Diaspora Commission, and the CEO of Tap Remittance Company.
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The launch comes at a time when remittances represent a critical inflow for Nigeria—accounting for over $20 billion annually.
The initiative could prove vital in expanding access, boosting national reserves, and encouraging broader economic participation.
Panelists praised the CBN’s forward-thinking approach and emphasised the need for sustained collaboration with private sector players to refine and scale the NRBVN system.
The conversation also explored the initiative’s potential to deepen diaspora investments and build trust in Nigeria’s financial institutions.
“The NRBVN is not just a ceremonial launch,” Abdullahi emphasised.
“It is a call to action and an invitation to collaborate. We are building a bridge—one that is secure, inclusive, and dynamic. And we need your feedback, your voices, and your ideas to make it truly world-class.”.
Premier Oiwoh, Managing Director/CEO of NIBSS, said so far, over 300 Nigerians in Diaspora have already applied, and assured that the system has taken care of critical concerns, including data privacy, amongst others.
Abike Dabiri-Erewa, Chairperson, Nigerians in Diaspora Commission (NIDCOM), called it a game changer for the economy and especially, most Nigerians in diaspora who have been greatly challenged in trying to participate in the country’s financial system.
Adaora Umeoji, Managing Director/Chief Executive (GMD/CEO) of Zenith Bank bank who also spoke during the panel session, equally called the initiative a game changer and strategic.
She said her bank which has been a part of NRBVN development process is ready to onboard interested Nigerians in diaspora, and has trained and retrained staff for the process.
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