Chairman/CEO of the Nigerians in Diaspora Commission, (NiDCOM) Honorable Abike Dabiri – Erewa has described the launch of the Non-Resident Bank Verification Number (NRBVN) by the Central Bank of Nigeria as timely and a welcome response to the aspirations of Nigerians in the diaspora eager to invest in the country.
Speaking in an exclusive interview with AV1 News Vivian Akinyosoye, the NiDCOM boss unveils the motivation behind the NRBVN, its benefits for Nigerians abroad, and how it fits into broader diaspora engagement and national development goals.
AV1 NEWS: Congratulations on the Launch of the Non-Resident BVN! To begin with, can you tell us the motivation behind this initiative and how it aligns with NIDCOM’s broader mandate?
Hon. Abike Dabiri – Erewa: The non-resident BVN, which was made by the CBN, is another game changer for Nigerians in the Diaspora. Now, what it means is that anywhere in the world, as a Nigerian, you can sit in the comfort of your home and open a BVN account.
Before, you had to travel to Nigeria to have your BVN, which is important to open your account. With the Non-resident BVN, Nigerians in the diaspora, anywhere in the world, can open their account, and we commend the CBN and NIBSS for this initiative.
It’s something that has been long overdue, and we recall that in the early stages of the CBN’s Governor’s appointment, we approached him and we discussed with him to do something such as coming up with programmes, policies that will enhance Diaspora remittances. I think the first thing the CBN did was to harmonize the foreign exchange. Don’t forget that prior to now, we had a dual exchange rate, but now, we do not have that anymore, so that’s a good one for everyone. Now the non-resident BVN makes it possible for you to open your account seamlessly. So here are the benefits:
Don’t forget that we are saying that we have about 20 million Nigerians in the diaspora. So, this is a very good initiative by the CBN. Another thing the Diasporas have asked us about is whether their data is protected, data privacy? That is the one thing that the NIBSS, who are the handlers of this, have ensured that it is put in place. So, CBN, NIBSS have assured that their data privacy is well-protected.
AV1 NEWS: What role did NIDCOM play in the development and implementation of the Non-Resident BVN, and which other key stakeholders were involved?
Hon. Abike Dabiri – Erewa: Well, NiDCOM, as the agency for diaspora, has constant engagement with the CBN. We have a partnership with the CBN; we work with the CBN; so what we are going to be doing is helping out in terms of letting the diaspora know about this process; what are the challenges, what are the questions you need to ask? You can ask us and we will definitely get across to you. One thing I also know while engaging with CBN and NIBSS is that there is a 24/7 customer care service if you have a problem. There could be a glitch along the way, if you have a problem, there is somebody to talk to. We also talk about the benefits of this:
So, we will continue to partner with the CBN, work with them and educate Nigerians in the diaspora on this and bring this to your doorstep that this is another innovation of the CBN Governor, under the Renewed Hope Agenda of President Bola Ahmed Tinubu.
AV1 NEWS: How does the NRBVN specifically address the financial challenges faced by Nigerians living abroad when it comes to interacting with the Nigerian financial system?
Hon. Abike Dabiri – Erewa: It helps in financial inclusion. It makes life much easier for you. A lot of complaints from people in the past was that you have to travel down to get your BVN, but now, you don’t have to bother about that. I think that is a game changer.
AV1 NEWS: What kind of response are you expecting from diaspora Nigerians since the launch? Any early statistics or indicators you can share?
Hon. Abike Dabiri – Erewa: Already, we have started registering. Nigerians in the diaspora have already keyed into this- in fact, on the day CBN launched this, according to NIBSS about a few hundreds have signified their intention to have this done. And we saw one or two banks that said they have had this done. So, we hope to have more town halls, more engagements, where we’ll go physically to meet our diasporas. So, yes, it’s already working. However, if there are any challenges, let us know. For any new initiative, there may be challenges. Now, India, Bangladesh have done all this, so Nigeria doing it, will only enhance quite a lot of our inclusivity of our diaspora.
AV1 NEWS: AV1 NEWS. What is the process for a Nigerian abroad to obtain a Non-Resident BVN? How long does it typically take, and what documentation is required?
Hon. Abike Dabiri – Erewa: Everything is on the NIBSS website, and check the NiDCOM website, we put all the information there, for what is needed. But it is not long, I have seen someone who registered in real time. There will be questions to be answered because your data needs to be protected. There are some documents you have to provide and it must be full-proof. Every information is on the NIBSS portal and we will also put it on our NiDCOM portal.
AV1 NEWS: Are there designated locations (e.g., embassies, consulates, or partner banks) where the NRBVN can be processed, or is the process entirely virtual?
Hon. Abike Dabiri – Erewa: The process is virtual- I mean, it is on your phone; it’s in your homes. However, our Nigerian embassies, missions are there to work with the CBN, to ensure- it’s about getting you the information. You can do it on your phone, you don’t need to go anywhere. Just like the passports now, you don’t need to go anywhere to get it done. You can apply for your passport online from the convenience of your home. However, our missions, embassies are required to have this information at hand, so that if there are any challenges, we will be there to answer any questions.
AV1 NEWS. What provisions have been made for Nigerians in countries without Nigerian embassies or banking agents?
Hon. Abike Dabiri – Erewa: That is why this is convenient- you don’t need a banking agent; you don’t need an embassy; you need YOU and your mobile device (your phone or your computer). That is all you need to open a non-resident BVN; it is very simple. But there is information that you need to provide: of course, you need to put that information, and the KYC is very important; that is, Know Your Customer.
AV1 NEWS. How does NIDCOM plan to measure the long-term success of this initiative?
Hon. Abike Dabiri – Erewa: We will work with the CBN, NIBSS and of course…banks. The Banks are actually the ones that will say, “Hey, you can open with us!” So we’ll partner with financial institutions, and the IMTOs are very important in this. So banks, IMTOs, CBN, NIBSS. We are the agency for diaspora, so we’ll work with all of them and monitor the success of this registration.
AV1 NEWS: . How is NIDCOM engaging with diaspora communities to create awareness about the NRBVN?
Hon. Abike Dabiri – Erewa: We need to do physical town halls for them. As we go to meet them. It is a major topic that we are addressing, and we’ll partner with CBN, NIBSS, banks, IMTOs, to have town hall meetings with the diaspora: bring this to their doorstep, educate them on it, and we’ll also know what their challenges are, as they go ahead with this product.
AV1 NEWS: Is there a feedback or grievance redressal mechanism in place for users who may encounter challenges with the process?
Hon. Abike Dabiri – Erewa: It has a 24/7 customer service, so that in case you’re trying to log in and something goes wrong, there will be someone to attend to you. However, if there are any challenges, you can reach us at admin@nidcom.gov.ng. We’ll try to get you the answers.
AV1 NEWS: What would you say to a Nigerian living abroad who is hesitant or unaware of the benefits of obtaining the NRBVN?
Hon. Abike Dabiri – Erewa: We will ensure that every Nigerian knows about this. We will ensure that every Nigerian is aware of this new product by the Government, through the CBN, under the administration of President Bola Ahmed Tinubu. We want every Nigerian to know that it is now easy to send money back home. It is now easy to invest wherever you want to; it is easy to do whatever you can.
There’s better financial inclusion for our diasporas to prevent them from complaining about how frustrating it is to get this and that. There are two things- BVN, now very easy; passport, now very easy. However, problems may be encountered from time to time; that’s why you have us at the Diaspora Commission to be the bridge between you and whatever it is you want from the country.
AV1 NEWS: Finally, beyond the NRBVN, are there other financial or economic empowerment programs in the pipeline for Nigerians in diaspora?
Hon. Abike Dabiri – Erewa: We have the Diaspora Trust Fund- we’re working with the Federal Ministry of Trade and Investment. Again, we want to cross the t’s and dot the i’s before introducing it to the public.
And we have the Investment Summit: the second week in November, the diasporas are coming together to talk about investment, and we have been having tremendous success: healthcare, education, ICT, food industry, agriculture, and we are very excited about it. We have Diaspora Day, which is a day to celebrate all Nigerians abroad- we gather together, we talk, we have conversations, and we have the Diaspora Merit Awards, where we give awards to Nigerians who outperform not just those abroad but have excelled in doing things back home.
We have a data mapping portal, where we are beginning to gather data of our brothers and sisters abroad, and why this is important is because it will be easy to know this professional vehicle to get in touch with, and now have the ‘Nigeria First’ policy by President Bola Ahmed Tinubu. It is important for the diaspora to key into this policy, because why look for someone else to do it when you, the diaspora, can do it. That’s why we are saying, get involved- see what you can do; seize the opportunity to join hands in building your country.
AV1 NEWS: Thank you, Honourable, for taking the time out of your busy schedule to speak with us. We look forward to future conversations as new developments unfold and your vision for Nigerians in the diaspora continues to take shape.
Hon. Abike Dabiri – Erewa: Thank you, Vivian. It was a pleasure speaking with you.
