CBN to launch BVN platform for Nigerians abroad – Cardoso
The Central Bank of Nigeria (CBN) will introduce a Bank Verification Number (BVN) platform for Nigerians living abroad by December 2024, Governor Olayemi Cardoso announced. The platform, developed by the Nigerian Inter-Bank Settlement System (NIBSS), will simplify access to financial services for the diaspora community.
Speaking at the World Bank/IMF meetings in Washington D.C., Cardoso emphasized that the initiative will allow Nigerians abroad to manage local bank accounts, conduct business, and resolve Know-Your-Customer (KYC) issues without needing to travel home for biometric verification.
“It’s unacceptable that Nigerians abroad struggle to operate their accounts or do business in their own country,” said Cardoso. “From December, remote KYC processes will ensure seamless financial access from anywhere in the world.”
Launched in 2014 to enhance banking security and curb fraud, the BVN system now serves over 61 million Nigerians. This new platform marks a significant step toward broader financial inclusion for the Nigerian diaspora.
