Business
Customs Impounds N133.7m Contrabands
The Federal Operations Unit (FOU) of the Nigeria Customs Service (NCS), Ikeja, said that it impounded 335 contrabands valued at N133.7 million in February.
The Public Relations Officer of the unit, Mr Uche Ejesieme, told newsmen in Lagos that the command made 108 seizures valued at N112.2 million in the corresponding period of 2012.
Ejesieme said that 10 suspects were arrested in February in contrast to 39 suspects arrested in the same period of 2012.
“What we try to do here is to be a step or two ahead of these smugglers.
“We’ve been able to employ the concept of risk management, profiling, coupled with the use of informants to apprehend these smugglers.
“The period before now, we were not actually employing any kind of strategy but now the risk management concept is a strategy, which we have employed and it has been helping so wonderfully well.”
He attributed the large volume of seizures made in February to the approach used by the command.
“That is why you could see that there is a kind of bumper leap in the number of seizures we are having this period when compared with the result of last year.
“We are not stopping at that, this is just the beginning. We will continue to wreak havoc on these people because the CGC, Dr Abdullahi Dikko, (CFR) has actually motivated us.
“He has also provided logistics to help us achieve result and we are not ready to let the CGC and the management of customs down in this statutory function. “
Ejesieme urged the smugglers to shun the smuggling of contrabands into the country.
He said the customs patrol team was able to overpower the smugglers with the ammunition provided by the customs management.
Ejesieme urged smugglers to desist from the unpatriotic act, adding that the service would not relent until smuggling is reduced.
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.
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