Business
NECA Wants ‘No Work, No Pay’ Law In Private Sector
The Nigeria Employers’ Consultative Association (NECA) said last Saturday in Lagos that the “no work, no pay” law should be applicable to striking workers in the country’s private sector.
The Director-General of NECA, Mr Segun Oshinowo, made the call while addressing a two-day retreat on human resource management.
The theme of the retreat is “Repositioning human resource for strategic relevance to business”.
“A company is run with the money generated by its workers. Any worker who embarks on strike is not supposed to earn salary.
“The ‘no-work-no-pay’ rule must be enforced,” Oshinowo said.
He noted that the rule which was provided for in the country’s statute book had already been applied in the public sector.
The NECA boss advised human resource managers to ensure that check-offs were collected from union members and not through deductions from salaries.
“It is the duty of the unions to collect dues directly from their members,” Oshinowo said.
Oshinowo called for responsible unionism in the country’s labour movement.
“Human resource managers should also help their workers to benefit from the newly reviewed Employees Compensation Act,” he added.
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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