Business
JTF Adopts New Plan To Check Illegal Refineries
The Joint Task Force
(JTF) operating in the Niger Delta on Sunday, said that it had adopted a new strategy in destroying illegal oil refineries in the region.
Lt.-Col. Olusegun Oladuntoye, the Commanding Officer of 29 Battalion of the 2 Brigade of the Nigerian Army, Port Harcourt, said this during the destruction of an illegal refinery in Alakiri, Okirika local government area of Rivers.
He said that the strategy involved the deployment of a “Swamp Buggy” machine, which crushed metallic tanks, thereby making it impossible for oil thieves to revive destroyed refineries.
Oladuntoye said that the JTF had redoubled its efforts to eliminate illegal refineries and attacks on oil installations in the Niger Delta area.
“Based on intelligence reports; we have discovered that the war against illegal oil bunkering cannot be completed without thorough destruction of illegal refineries.
“We have realised that whenever we burn down illegal refineries with metal tanks; some days after our troops leave the scene; the oil thieves would return and revive the refineries.
“The destruction of illegal refineries with metal tanks and their subsequent revival have posed a challenge to our operations, aimed at ending the sabotage on the nation’s economy.
“So, we have adopted a new strategy which involves the usage of `Swamp Buggy’ machines.
“The machine totally crushes the metal tanks and makes it impossible for criminals to revive the refineries.
“This method will go a long way in discouraging oil thieves from reviving destroyed and crushed illegal refineries because it would take them several months to revive the refineries,” he said.
Oladuntoye said that in spite of the new approach to discourage the revival of destroyed refineries; troops would also carry out a 24-hour surveillance patrol of the areas.
He said that the operation would continue until all the illegal refineries in the area were completely destroyed.
He, however, urged the public to provide the JTF with timely information that would lead to the apprehension of oil thieves and pipeline vandals.
Governor Emmanuel Uduaghan of Delta had reportedly said on January 3 that Nigeria lost about 40, 000 barrels of crude oil to thieves daily.
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.
