Business
Oronsaye Defends Merger Of Agencies, Parastatals
The former Head of Service of the Federation, Mr Stephen Oronsaye, has dismissed insinuations that the merger of government agencies and parastatals will lead to increase in unemployment rate.
Oronsaye made this known in an interview with newsmen in Abuja yesterday.
He dismissed the fear being expressed in some quarters that the merger would render a lot of people jobless as baseless.
Oronsaye said the Presidential Committee on the Rationalisation and Restructuring of Federal Government Parastatals, Commissions and Agencies, recommended the “Traffic Light Model” to address such challenge.
“The merger of some agencies and parastatals with similar mandates will not lead to unemployment as insinuated. People should go and read the report,’’ he said.
According to him, the model categorised workers into Green, Amber and Red to ensure proper screening and that only redundant workers will be laid off in the process.
Oronsaye explained that green represented qualified and active workers, adding that such workers would be absorbed.
He further explained that amber represented workers who required adequate training while workers in the red category would be laid off for non-performance.
“The model that is recommended in the report is the Traffic Light Model, green, amber and red.
“If you are green you remain, if you are amber you will be trained and if you are red, it means stop, you are of no use,’’ he said.
The Tide source reports that reactions have been trailing the decision of the Federal Government to merge some parastatals, agencies and departments with similar mandates.
The committee which was chaired by Oronsaye had in April, 2012 recommended the scrapping, merger or reversal of some agencies of government to cut down on cost of governance.
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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.
