Business
Commission Plans Policy For Workers
Chairman, National Salaries, Incomes and Wages Commission, Dr Richard Egbule, has promised that the commission will come out with a pay policy for the public service.
Egbule spoke with newsmen at the end of a two-day national workshop held in Abuja on the development of a pay policy guide for the public service.
He said that the workshop was organised due to recent quests by government workers to improve on their remunerations in form of pay reforms and emolument.
The chairman said that the report from the forum by stakeholders would assist the commission to work on the pay policy.
According to him, the commission needs to get a draft that will be presentable to the Federal Government to ensure that the pay policy is enacted as a law.
He said that another policy the commission was working on was that on a comprehensive job evaluation and grading in the public service.
Egbule said: “Recent improvements in the area of workers’ welfare in the form of pay reforms and emolument review generated numerous enquiries.
“The workshop was planned to provide a forum for stakeholders to brainstorm on the subject matter and generate input for developing such a document.
“We will look at the areas the participants have mentioned in order to come out with probably a draft, because the ultimate thing now is the draft.”
Egbule presented a paper at the workshop entitled: “Current Practice and System of Remuneration Management in the Public Service: Insight, Challenges and the Way Forward”.
Also the Chief Economist, Nigeria Labour Congress, Mr Peter Ozo-Eson, presented a paper on Critical Success Factors for Sustainable Remuneration Policy in the Federal Public Service.
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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