Business
Shell, Community Differ On Oil Spill
The Ikarama Community in the Yenagoa Local Government Area of Bayelsa State has disagreed with the Shell Petroleum Development Company (SPDC) over the cause of the reported oil spills from nearby oil wells.
The spill has contaminated the Taylor Creek in Yenagoa and residents of Biseni/JK4 Road told The Tide source that they disagreed that the spills were caused by oil theft.
Officials of Shell’s Oil Spill Response Unit were seen on Monday recovering crude discharged into the environment near the company’s Well 2 in Biseni Area.
Assistant Secretary, Caretaker Committee of JK4 Edagberi/Betterland Community, Mr. Ambrose Osuolo, told reporters that the people were convinced that some of the spill points were traceable to equipment failure.
Osuolo said, “We noticed the spills on April 30 and Shell came for a joint investigation visit (JIV) on May 3. I represented my community on the JIV, but the investigation was inconclusive due to different views held about the cause of the spill.
“While Shell attributed the cause to sabotage, saying that the pipeline was drilled in, I was not convinced and hence we did not sign the JIV report.
“Although Shell came purposely for this particular spill, we discovered two more spill points within this Well 2 environment on that same day.
“The affected pipeline conveys crude from Well 2 to the nearby Adibawa Flow-station. We reported to the Bayelsa Ministry of Environment so that the ministry could put pressure on Shell to mop up the spill in the environment.”
An SPDC spokesman, Mr. Precious Okolobo, in a statement on May 6 attributed the spill to sabotage of pipeline by oil thieves.
The statement said the preliminary findings indicated that the spill, which was caused by the activities of oil thieves, had contaminated the Taylor Creek.
Okolobo said, “A joint investigation visit (JIV) was executed and the initial reports indicated that the pipeline was sabotaged by a 20 cm long hacksaw cut.
“SPDC is committed to cleaning up all spills from its facilities as fast as possible regardless of cause. Majority of the spills in the Niger Delta are the result of third party interference.’’
The statement said the sabotage included theft of equipment or leaks caused by crude oil thieves who drill into pipelines to steal oil.
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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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