Business
NLC Tasks FG On Oronsanye’s Report
The Nigerian Labour Congress has called on the government to address the social and labour issues that might ensued from the report of the Presidential Committee on the Rationalisation of Federal Government Parastatals, Commissions and Agencies.
The Stephen Oronsanye-led committee submitted its report to President Goodluck Jonathan week.
In a statement issued in Abuja by the acting President of NLC, Mr Joe Ajaero, the congress said its comments had become imperative because the recommendations in the report “raised serious labour and social issues”.
According to the statement, the NLC told the Presidency at the inauguration of the committee that it was necessary for it to be represented on the committee.
“Now that the report is out and a government team to produce a White Paper has been constituted, the NLC finds it imperative to raise the social and labour issues that will arise.
“The recommendations, which include the reduction of 263 statutory commissions to 161 and the scrapping of 38 agencies, may lead to massive loss of jobs which will have disastrous consequences for the country.
“It is necessary to first clarify that the NLC believes that the cost of governance needs to be reduced although we think this has to do mainly with government expenditure on political appointees and hangers on.”
The statement pointed out that parastatal agencies such as “the FRSC and EFCC which have proven records of success’’ should not necessarily be scrapped or merged.
“Where compelling reasons and facts are given, congress will not necessarily oppose the merger or scrapping of certain agencies; however we do not think that these need necessarily lead to job losses.
“But since job losses may be inevitable in a few cases, congress demands that special focus be placed on the social and labour implications.
“We know that each worker caters for more than six persons and each job loss may automatically translate to eight Nigerians being pushed further down the poverty line and hunger.
“There are also security implications as a jobless and hungry citizen may become vulnerable to being enticed by enemies of the country.”
The NLC stressed that any redundancy that might be declared in the affected organisations should be in accordance with labour laws.
It said that there should be negotiations with the relevant unions or authentic representatives of the workers to be affected.
“But given the fact that this may cut across a number of parastatals and agencies, it is necessary that the central labour unions in the country should be invited to negotiate with the Federal Government.
“To avoid the social and labour issues and crisis that may occur as a result of the report, the White Paper and government actions, Congress appeals to the Presidency to invite labour at this stage for discussions on the issue.”
The NLC assures workers that they would not be abandoned and that the congress would do its best to protect their interests.
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
-
News3 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
-
Sports3 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
