Business
Nigeria, Israel Sign BASA Agreement

Oshodi Resettlement Market, Lagos, inaugurated by Governor Fashola of Lagos State, yesterday. Photo: NAN
Nigeria and the State of Israel in Jerusalem on Monday signed a Bilateral Air Services Agreement (BASA) to pave way for direct flights between them.
The Acting Minister of Foreign Affairs, Prof. Viola Onwuliri, representing President Goodluck Jonathan, signed the agreement on behalf of the country.
The agreement is expected to pave way for direct flights between both countries on the principle of reciprocity by the designated airlines of both countries.
Before now, Nigerians travelling to Israel, including Christian pilgrims, stopped over in neighbouring countries before being finally transported to their destination.
Onwuliri said after the signing of the agreement that the accord would deepen bilateral ties between both countries and boost their economies.
“The agreement will augur well for movement of persons, our pilgrims, businessmen, academics, the civil society and students.
“Many of our people also come here to benefit from the technology of Israel,” she said.
The minister also said that the agreement would make enormous impact on trade and investment, agriculture, construction, tourism, security and capacity building.
Mr Zeev Elkin, who signed on behalf the State of Israel, noted that the visit of Jonathan to the country provided a great opportunity for the signing of the agreement.
The Minister of Aviation, Ms Stella Oduah, said the BASA agreement would be exploited to enhance the aviation sector.
he said that the aviation sector was already targeting the operation of daily flights to Israel.
In a remark, Mr John Kennedy Okpara, Executive Secretary, Nigerian Christian Pilgrims Commission, said the agreement would reduce the number of hours that pilgrims spent on flights and cut costs.
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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