The Central Bank of Nigeria (CBN) yesterday said no hidden fees have been introduced to the newly launched Non-Resident Bank Verification Number (NRBVN) platform.
The central bank also maintained that BVN enrolment for Nigerians residing within the country remained entirely free of charge.
CBN Acting Director, Corporate Communications Department, Hakama Sidi Ali, made the clarification in a statement, following recent speculations regarding charges related to the initiatives.
She explained that the fee referenced in recent reports applies solely to the recently launched NRBVN initiative, a service designed specifically for Nigerians living in the Diaspora.
Sidi Ali further explained that the nominal charge of about $50 was not a fee for obtaining a BVN but rather a recoverable processing cost for remote biometric and due diligence verification.
The cost, she noted, covers secure identity authentication, data handling, and technology infrastructure required to support the overseas enrolment process.
According to the CBN’s Acting Director, “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.
