Business
Second Hand Clothes Enjoy Patronage Huge
Fairly used clothes, popularly known as “Okirika’’ or “second hand clothes” are enjoying more patronage in Lagos State, than the “readymade” during this yuletide season
Some traders in “second hand cloths,” at the Balogun Market Lagos, who spoke with newsmen last Saturday, said the clothes had many customers.
Mrs Nkechi Nwafor, a dealer in second hand clothes, said since the beginning of December, her shop witnessed influx of people from different places patronising her goods.
She said prices of the fairly used clothes were gradually increasing since it gained more popularity than the new ones, adding that she dealt on quality first grade second hand clothes.
Nwafor said a bale of second hand clothes ranged between N40, 000 and N50, 000, depending on the maker of the product.
She said the bale of clothes consisted of childrens’ wears, trousers, skirts, gowns and shirts.
Mrs Amaka Okpara, another trader, said most customers called her to book for first grade clothes.
She said she paid more for American bales which had quality clothes in them, and took her time to ensure she got good clothes in order to get more customers.
Okpara said the patronage was high this season as most people discovered the beauty of fairly used clothes.
Mrs Bola Iyanda, a customer at the market, said she liked second hand clothes because of its durability.
She said she selected jean trousers for her sons from the “bend down boutique” as she called it, adding that she spent just N3,500 to purchase the trousers as opposed to N6,000 she spent last year on readymade ones.
Mrs Ifeoma Ogueri, another customer, said she preferred second hand clothes because they were affordable and more durable than the new ones.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
Business
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