CBN Unveils 7 Key Reforms to Reconnect Nigerians in Diaspora with Home Banking System
The Central Bank of Nigeria (CBN) has taken a bold leap to re-integrate Nigerians living abroad into the country’s financial ecosystem by launching the Non-Resident Bank Verification Number (NRBVN). Unveiled yesterday in Abuja by CBN Governor Olayemi Cardoso, the initiative eliminates seven major barriers that have long prevented Nigerians in the diaspora from seamless participation in Nigeria’s banking and investment systems. Here are the key reforms and what they mean for diaspora Nigerians: Governor Cardoso described the launch as a “dream come true” for millions of Nigerians abroad, noting that “this is the beginning of a broader journey, not the final destination.” The CBN plans ongoing refinements based on user feedback to ensure no Nigerian is left out of the country’s financial future—no matter where they reside. This groundbreaking policy marks a new era of inclusion and opportunity, bridging the distance between Nigerians at home and abroad with financial infrastructure that works for everyone.