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CBN Launches BVN Platform For Nigerians In Diaspora, Targets $1bn Monthly Remittances

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The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the non-resident bank verification number (NRBVN) platform to ease access to financial services for Nigerians in the diaspora.

Unveiled on Tuesday in Abuja, the digital platform allows Nigerians abroad to obtain their BVN remotely, eliminating the long-standing requirement of physical presence in Nigeria.

Speaking at the launch, Olayemi Cardoso, governor of CBN, described the NRBVN as a major leap in the apex bank’s financial inclusion agenda, particularly for Nigerians living outside the country.

“For too long, many Nigerians abroad have faced difficulties accessing financial services at home due to physical verification requirements,” Cardoso said.

“The NRBVN changes that. Through secure digital verification and robust KYC processes, Nigerians worldwide can now access financial services more easily and affordably.”

Cardoso said the platform would not only boost access but also drive innovation and deepen trust in Nigeria’s financial system.

“We are building a secure, efficient, and inclusive financial ecosystem for Nigerians globally,” he said.

“This platform is not just about financial access—it’s about national inclusion, innovation, and shared prosperity.”

Highlighting the importance of diaspora remittances, the CBN governor said inflows rose from $3.3 billion in 2023 to $4.73 billion in 2024, driven in part by recent foreign exchange reforms.

He expressed optimism that the NRBVN, along with complementary policy measures, could help Nigeria reach its target of $1 billion in monthly remittances.

“With the introduction of NRBVN and complementary policy measures, we are optimistic about achieving our ambitious target of \$1bn in monthly remittance flows,” Cardoso added.

Premier Oiwoh, managing director and chief executive officer of NIBSS, gave a technical overview of the platform, noting that it aligns with global anti-money laundering (AML) and know your customer (KYC) standards.

Oiwoh said the platform is built to ensure security, transparency, and ease of use for Nigerians abroad.

Also speaking, Muhammad Abdullahi, deputy governor, economic policy at the CBN, described the NRBVN as a “transformational tool” that would strengthen economic ties with the diaspora.

“Together, we stand at the threshold of a new era, poised to deepen trust, enhance remittance growth, and forge a stronger connection between Nigeria and its global citizens,” he said.

The NRBVN is part of a broader framework that includes the non-resident ordinary account and the non-resident Nigerian investment account, which provide Nigerians abroad with access to savings, mortgages, pensions, insurance, and investment products in the Nigerian financial ecosystem.

BIG STORY

Obasa Hails ‘Jandor’s’ Return To The APC

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Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa has hailed the return of former Peoples Democratic Party governorship candidate in the 2023 election, Abdul-Azeez Adediran, popularly known as Jandor, to the All Progressives Congress, describing it as a positive development and a major boost for the ruling party in Lagos.

Speaker Obasa, who hosted Jandor on Tuesday at his official residence in Ikeja GRA, expressed excitement over his return to the APC, describing it as the only political platform that truly reflects the aspirations of Lagosians, and indeed, Nigerians.

“We are happy to have you back. This is a very good move,” Obasa said, assuring Jandor of full reintegration and collaboration in the party’s collective pursuit of good governance. The Speaker further praised Jandor for his courage and conviction, stressing that the APC’s inclusive structure provides the right platform for unity and development.

Responding, Jandor, who returned officially to the APC fold in March, thanked Obasa for the warm reception and pledged his commitment to working with the APC for the benefit of Lagos State and Nigeria because, “It is only through unity of purpose, shared sacrifice, and responsible leadership that we can secure a brighter and more prosperous future for every Nigerian.

He also lauded President Bola Tinubu’s recent tax reforms, saying, “Though demanding, the President’s reforms are courageous steps toward re-engineering our economy and laying a firm foundation for progress and prosperity.”

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Stop Giving Money To Miscreants, Lagos Tells Celebrities, Influencers — Says It Fuels Insecurity, Environmental Problems

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The Lagos State Government has cautioned celebrities, social media influencers, and residents against giving money to street miscreants, warning that such actions worsen insecurity and environmental issues.

Tokunbo Wahab, the commissioner for environment and water resources, issued the warning in a statement posted on X on Tuesday.

“Celebrities, influencers, and even well-meaning Lagosians must stop giving money to these miscreants. Each time you hand them cash, you are not solving their problem; you are encouraging them to stay on the streets, emboldening them to multiply, and reinforcing a cycle of lawlessness,” Wahab wrote.

He added that what many regard as an act of kindness complicates enforcement and creates broader security challenges.

His remarks followed a complaint by a resident, Olukayode Ajenifuja, who reported harassment along the Lekki-Epe Expressway. Ajenifuja urged the state to deploy the Lagos State Neighborhood Watch to curb extortion, assault, and intimidation by homeless boys and teenagers in the area.

The warning also came after a viral video showed touts and luxury car content creators chasing a convoy believed to be carrying Afrobeats star Burna Boy, attempting to solicit money while recording content. The singer’s security team prevented them from reaching his car.

Wahab said the state government is committed to tackling the menace but urged residents to support the efforts by refusing to encourage the miscreants.

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Leave Before Visa Expires Or We’ll Remove You — UK Warns Foreign Students

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The United Kingdom has warned international students whose visas have expired to leave the country or risk deportation.

The Home Office, in a new enforcement campaign, said it has begun sending direct text and email messages to students, marking the first time such a measure is being applied.

According to the BBC, about 10,000 students whose visas are due to expire have already received the messages, while tens of thousands more will be contacted in the coming months.

The message from the Home Office reads: “If you have no legal right to remain in the UK, you must leave. If you don’t, we will remove you.”

The agency also warned that asylum claims considered “lacking merit” would be swiftly rejected.

Data released by the Home Office showed that between July 2024 and June 2025, a total of 41,100 asylum claims were lodged by people who had entered the UK legally on visas, with students making up the largest share.

Figures indicated that international students filed 16,000 asylum claims in 2024, almost six times the number recorded in 2020. Although the number has since dropped by about 10 percent, the British government said it expects a further reduction.

The department noted that asylum claims by skilled worker visa holders have decreased within the same period.

Earlier this year, the UK government reduced the period foreign graduates can remain in the country after completing their studies, cutting it from two years to 18 months.

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