The Central Bank of Nigeria (CBN) has dispelled current rumours circulating on social media concerning the introduction of latest or hidden costs associated to the {Bank} Verification Quantity (BVN) system, stating clearly that BVN enrolment for Nigerians residing within the nation stays totally freed from cost.
The apex {bank}, in a press release launched on Monday, stated the clarification was made by its Appearing Director of Company Communications, Mrs. Hakama Sidi Ali, in response to hypothesis over costs linked to the not too long ago launched Non-Resident {Bank} Verification Quantity (NRBVN) platform.
In accordance with Mrs. Sidi Ali, the charge talked about within the on-line stories is relevant solely to the NRBVN system, which is a brand new service designed particularly for Nigerians dwelling within the Diaspora.
She defined that the NRBVN enrolment course of carries a nominal cost of roughly $50, which isn’t a charge for acquiring the BVN itself, however fairly a recoverable processing value.
“This cost is for distant biometric and due diligence verification. It covers safe id authentication, knowledge dealing with, and the expertise infrastructure wanted to help the abroad enrolment course of,” she stated.
“The NRBVN isn’t a brand new tax or cost on Nigerians. It’s a service innovation aimed toward simplifying entry to Nigeria’s {financial} system from anyplace on the earth,” she reiterated.
The NRBVN platform, launched in collaboration with the Nigeria Inter-{Bank} Settlement System (NIBSS), allows Nigerians dwelling in diaspora to enroll for BVN from anyplace on the earth with out visiting a bodily {bank}.
