Business
Sacked Electricity Workers To Sue FG
The crisis rocking the privatisation of Power Holding Company of Nigeria (PHCN) appears not to be over yet as the recently laid-off members of the National Union of Electricity Employees (NUEE) are threatening legal action against the Federal Government and the new power investors.
A national officer of the disbanded union who disclosed this to The Tide in an interview in Port Harcourt accused the investors of violating the 15-point agreement reached between the government, the investors and NUEE, including the Senior Staff Association of Electricity and Allied Companies in Abuja on 13th January 2014.
According to the top officer who pleaded anonymity, many workers have been laid off without severance packages and there have been victimisation of NUEE officers who championed the workers’ welfare.
The officer said it was agreed that the records of service of staff should be crucial in the lay-off plan but that majority of the hardworking staff with enviable records were targeted and sacked because of the workers’ struggle they championed.
“They are anti-unionsim, witch-hunting us in addition to several other points which they deliberately contravened.
We are set to drag them to the arbitration court for justice. So, the struggle has not ended yet”, the officer stated.
“In Enugu, investors deducted N50,000 from each worker’s pay without any explanation and in Port Harcourt zone our investigation has also shown that those disengaged are the best hands with good records of service. They should explain to us the modality adopted”, the officer maintained.
The officer further attributed the poor power supply currently being witnessed to the fact that good hands were removed.
“Before now, the supply was dangling between 3,500 MW to 4,000 MW, but today it is far below the least sustained before. Shiroro Dam is not working because they have removed the hands that were doing the magic”, the officer said, expressing fear that the nation’s power supply would continue to drop systematically.
“We intend to reach out to human rights and industrial court to look into our case”.
It could be recalled that the union suspended its 14-Day ultimatum based on resolutions reached at the reconciliatory meeting held in the office of the Minister of Labour and Productivity, Chief Emeka Wogu, between the Federal Ministry of Power, Bureau of Public Enterprises, the National Union of Electricity Employees and Senior Staff Association of Electricity and Allied Companies on 13th January 2014.
Chris Oluoh
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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