Business
Reactions Trail Proposed Restriction On Building Plan
Reactions have followed the recent pronouncement by the Rivers State government that it is initiating a bill that would be passed into law at the State House of Assembly which would restrict local governments from giving approvals for building plans.
Some stakeholders who spoke to The Tide on the development said that such proposed law would be a welcome development, as it would address the excesses of the local governments, while some view it as a means of denying the councils of their revenue sources.
Speaking to The Tide on the issue, a property developer in Port Harcourt, ThankGod Amadi said the activities of some local government councils, particularly those closer to Port Harcourt had gone beyond approval of building plan to mere extortion.
He said that a lot of confusion and irregularities had dominated the system to the extent that there is no uniformity, and that touts claiming to be representing councils now go to sites and charge whatever fee they like with force, adding that the situation calls for a change.
On his part, an estate surveyor and valuer, Mr. Smith Egbor said that many local government councils had abused the system to the extent that touts have taken over the process, and all they are after is the money they will make.
He said that a lot of them that claim to be agents of councils now go from site to site on a daily basis, looking out for where development is taking place with the intention to extort money from developers by force, pointing out that such monies are not accounted for.
Meanwhile, a revenue contractor with the Obio/Akpor council who spoke to The Tide in a chat on the condition of anonymity said that he is not deterred by the moves of the state government to take over the plans approval.
He said that such moves would deprive the councils of their good source of revenue, adding that at the end of the day, it will turn out to be a constitutional matter, and that the state government can not deprive the councils of their revenue sources.
It would be recalled that the commissioner for Urban Development, Dr. T.W. Danagogo recently said that his ministry was establishing a one-stop building plan approval office to ensure proper scrutiny of all building plans.
He also stated that a new legislation to restrict councils from plan approval would be forwarded to the House of Assembly. The legislation, he said would empower only Greater Port Harcourt Authority and his ministry to give approval, so as to ensure that standards were maintained.
Corlins Walter
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.
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