Business
Stakeholders’ Collaboration Can Surmount Nigeria’s Electricity Challenge – Fashola
Minister of Power,
Works and Housing, Mr Babatunde Fashola, says the challenge in the electricity sector is not technical but artificial.
Fashola made the assertion when he received the management of the Abuja Electricity Distribution Company in Abuja.
According to him, the challenge can be surmounted with stakeholders collaboration.
The minister, however, charged the company to be more customers’ friendly and to keep the public abreast of its operations in order to win their confidence.
He said that the purchase of electricity transformers by private individuals should stop henceforth; stressing that it was the responsibility of electricity distribution companies to do so.
Earlier, Managing Director of the company, Mr Ernest Mupwaya, said the visit was to solicit support for policies that affected it and the electricity industry generally.
Mupwaya said, though, the company was determined to offer world class service to electricity customers in the Federal Capital Territory, Kogi, Niger and Nassarawa, but it had challenges.
This, he said, included acts of vandalism and defaulting customers, especially government Ministries Department and Agencies, among others (MDAs).
He stressed that though the solution for going forward in the electricity sector might be complex, it required the collaboration of stakeholders to achieve success.
He, however, said that the company was already discussing with the Governor of the Central Bank on ways of offsetting debts owed it by the MDAs.
Mupwaya called on the Federal Government to strengthen laws against vandalism of cables and transformers to deter vandals from destruction of power assets in the country.
He further said that the company had also been meeting with stakeholders and communities with a view to resolving some of their challenges.
He added that measure were also being put in place to modernise the company‘s customer care service to ensure improved service delivery.
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.
