Business
Group Tasks FG On NITEL Facilities
The Nigerian Institution of Electrical and Electronic Engineers has called on the Federal Government to deploy the neglected NITEL infrastructure in the telecommunications industry to other uses.
The institution’s Chairman, Mr Samuel Makinde, made the call when the association’s executive visited the Minister of Communication Technology, Mrs Mobolaji Johnson, in Abuja.
Makinde said that the country was losing a lot by having the premier telecommunications company moribund for several years without generating the much needed revenue for the nation.
He also urged the minister to consider building mobile libraries for Outside Broadcast Services (OBS) and internet hotspots in Abuja and its environs.
The chairman said that this would enhance the Federal Government’s job creation programme and improve internet access and penetration across the country.
Makinde lauded the minister’s drive in championing policies to grow the sector and urged her not to relent.
Earlier, Mobolaji had pledged her ministry’s commitment to partner with the Institution in the areas of policy formulations and capacity building for the industry.
“Please don‘t relent in your efforts in assisting the Federal Government in moving this country forward because the development of this country should be the first thing on our minds,’’ she said.
Mobolaji expressed confidence that Nigeria would not be left behind in the evolving global communications industry.
On broadband issues, she told the group that a presidential committee had been constituted to fashion out a roadmap to consolidate on current developments in the sector.
Business
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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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