CBN: BVN Still Free in Nigeria, $50 Only for Diaspora Enrolment
The Central Bank of Nigeria (CBN) has clarified that Bank Verification Number (BVN) registration remains completely free for Nigerians living within the country, following public concerns over alleged new charges.
In a statement issued by the bank, CBN spokesperson Hakama Sidi Ali explained that the $50 fee making rounds online only applies to Nigerians in the Diaspora under the new Non-Resident BVN (NRBVN) platform.According to her, the fee is not a payment for BVN, but a processing charge that covers remote biometric verification, identity authentication, and secure data handling for overseas applicants.“Nigerians abroad previously paid $200.
The $50 is a reduced, recoverable cost for remote access not a BVN fee,” she said.She emphasized that local BVN enrolment remains completely free, and urged the public to ignore misleading social media claims and verify information through official CBN and NIBSS channels.
The NRBVN platform, launched in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), is designed to ease banking access for Nigerians abroad, allowing them to obtain BVNs without traveling home saving time and improving security.
