Business
Tambunal Tasks Nigerians In Diaspora On Dev
The Speaker of the House of Representatives, Rep. Aminu Tambuwal, has said that Nigerians in the Diaspora have potential to contribute to the socio-economic development of Nigeria.
Tambuwal made the statement at the National Diaspora policy advocacy workshop, organised by the International Organisation for Migration (IOM) in Abuja on Monday.
The speaker, who was represented by the Majority Leader, Rep. Mulikat Akande-Adeola (PDP-Oyo), said the assembly was working on ways to encourage Nigerians in the Diaspora to invest at home.
“In addition to remittances sent home by Nigerians, we are working to encourage the Diaspora to invest in emerging industries,’’ he said.
He said remittances from the Diaspora remained one of the largest sources of foreign exchange inflow into the country, adding that the World Bank had ranked Nigeria as the fifth topmost recipient countries of Diaspora remittances.
He said that apart from remittances to the country, the Diaspora also contributed through direct investments.
Tambuwal urged the committee to ensure a structured protection of Nigerians abroad and evaluate the relevance of a National Diaspora policy.
He said that Diaspora issues would continue to assume an important place in the country’s political agenda.
The Chairman, House Committee on Diaspora, Rep. Abike Dabiri-Erewa, (ACN-Lagos), said since the inception of the committee, it had intervened in some Diaspora issues.
She said that with a Diaspora policy in place, Africa would surpass India in Diaspora matters.
Dabiri-Erewa said the establishment of a Diaspora commission would complement Diaspora activities.
Mr Charles Kwenin, IOM Senior Regional Adviser for Africa, said that Africans in the Diaspora remitted 60 billion dollars to Africa in 2012.
Kwenin said that there was a need for the formulation of a Diaspora policy to enhance its activities.
He said that the organisation was looking forward to working closely with the committee on Diaspora issues.
“We attach a great deal of importance to Diaspora activities,’’ he said.
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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.
