Business
Presidential Committee Reduces Cargo Clearance To 7 Days
The Chairman of Presidential Monitoring Committee on Ports Reform, Prof. Sylvester Monye, last Thursday said his committee had reduced cargo clearance at the seaports from 39 days to seven days.
Monye told newsmen in Lagos that his committee’s target, which started work two months ago, was to achieve 48- hour cargo clearance in line with developments at Cotonou and Ghana ports.
“Our mandate is not only to achieve 48-hour cargo clearing regime, but to ensure that the road users within the Apapa area have comfort in conducting their legitimate business,” he said.
Monye said that a technical committee had been constituted to identify the processes and challenges of achieving the 48- hour cargo clearance target.
He said that the committee had presented a template of five steps which included cargo pre-delivery period from the time of arrival of the vessels.
Money said that the templates would still be subjected to consultations of stakeholders.
“We want the Nigeria Customs Service, Nigeria Immigration Service, Standards Organisation of Nigeria, National Food and Drug Administration and Control and Ports Quarantine to review the templates.
“Once this is done, we would present it to the Economic Management Team and it would thereafter be adopted as processes for 48-hour cargo clearance,” he said.
The Committee Chairman said that the Nigerian Ports Authority (NPA) had ordered for more pilot vessels to bring in ships at nights.
He said that the Mile 2- Apapa expressway was a nightmare, adding that it had become completely unacceptable to have trucks constituting mayhem on the roads.
Monye said that there would be fewer trucks on the road in the next few weeks, adding that a triangular movement of the trucks would be adopted.
“We have also successfully achieved 24-hour port operation regime.
“For the first time since 1970, we began 24-hour operations at ports, but people are not coming forward to do business at night,” he said.
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
AFAN Unveils Plans To Boost Food Production In 2026
-
News4 days ago2026 Budget: FG Allocates N12.78bn For Census, NPC Vehicles
-
Sports3 days agoAFCON: Osimhen, Lookman Threaten Algeria’s Record
-
Politics3 days agoWike’s LGAs Tour Violates Electoral Laws — Sara-Igbe
-
Politics3 days agoRivers Political Crisis: PANDEF Urges Restraint, Mutual Forbearance
-
Sports4 days agoNPFL To Settle Feud between Remo Stars, Ikorodu City
-
Sports3 days agoPalace ready To Sell Guehi For Right Price
-
Sports3 days agoArsenal must win trophies to leave legacy – Arteta
-
Sports3 days agoTottenham Captain Criticises Club’s Hierarchy
