The Central Bank of Nigeria (CBN) has launched the Non-Resident Biometric Verification Number (NRBVN) platform to enhance financial inclusion for Nigerians in the diaspora, enabling remote access to banking services such as account opening and funds transfer.

Developed with the Nigeria Inter-Bank Settlement System (NIBSS), the platform draws inspiration from successful diaspora banking models in India and Pakistan, aiming to boost remittance flows and economic integration.

The CBN also introduced complementary financial products like the Non-Resident Nigerian Ordinary Account and Investment Account to encourage diaspora investments and support naira stability.

This initiative supports Nigeria’s broader strategy to improve financial service access, reduce remittance costs, and harness diaspora funds for national growth and development.