The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, announced that Nigerians in the Diaspora are required to obtain Bank Verification Numbers (BVN) by the end of the year. This was disclosed during a meeting with the Nigerian community in Washington, D.C.
The initiative, led by the Nigerian Inter-Bank Settlement System (NIBSS), aims to boost Diaspora remittances and help Nigerians abroad participate more actively in the country’s economy. Cardoso emphasized that it is unacceptable for Nigerians in the Diaspora to face difficulties in managing their accounts or doing business in Nigeria.
In addition to his meeting with the Nigerian community, Cardoso also engaged with international investors, where he discussed Nigeria’s ongoing monetary policy reforms and encouraged them to explore the country’s attractive investment opportunities.