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CBN Provides Guidelines For Nigerians In Diaspora To Enroll For BVN

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The Central Bank of Nigeria (CBN) said it has finalised the guidelines for Nigerians in the Diaspora to enroll for the Bank Verification Number (BVN).

The bank in a statement by Mr. Dipo Fatokun, the Director, Banking and Payment System Department of CBN, said the guidelines would enable Nigerian bank customers living outside the country to register the BVN without having to travel back home.

It said the measure was part of the efforts by the apex bank to fully implement the BVN project.

It stated the registration pattern included the use of foreign based Nigerian banks and an Online Integrated Solution consultant (OIS).

On the use of foreign based Nigerian banks, it required the customers to go to the bank where their bio data would be taken, BVN generated and communicated to their various banks.

On the second option, involving the use of a consultant, the CBN said it would require the customer to pay an equivalent of 30 pounds to the consultant in the OIS.

“The company is expected to capture necessary data for online transmission to Nigeria Inter-Bank Settlement System (NIBSS), which would thereafter generate the BVN and communicate same to the customer.

“The customer may approach OIS for the BVN, where the communication from NIBSS is not received within 48 hours after the enrollment.

“Thereafter, Nigerian banks’ customers in the Diaspora are expected to forward their BVN to their banks for linkage with their accounts,” it said.

The statement explained that the plan for the use of a consultant would roll out in 12 locations in the first phase.

It named the locations to include London, Leicester, New York, Atlanta, Washington DC, Houston, Johannesburg, Beijing, Shanghai, Guangzhou, Dubai and New Delhi.

It said the second phase would include locations with a high demand for service based on line feedback.

It added that remote locations with lower concentrations of Nigerians would be accommodated through scheduled sessions for defined periods.