Business
Union Lauds FG On Sack, Demotion Of FAAN Officials
The National Union of Air Transport Employees (NUATE) has lauded the Federal Government’s decision to sack and demote 22 top officials of the Federal Airports Authority of Nigeria (FAAN).
Mr Olayinka Abioye, the NUATE General Secretary, told The Tide source in Lagos yesterday that the restructuring should be extended to other aviation agencies.
Our source reports that as part of the Federal Government’s plan to restructure the aviation sector, some general managers and deputy general managers of parastatals in the sector were demoted.
Some managers formerly placed on Level 17 were in a letter issued by the Federal Ministry of Transport demoted to Level 10 and redeployed to other departments in the same organisation.
The restructuring followed the recommendations of the Presidential Committee chaired by Mrs Winifred Oyo-Ita, Head of the Civil Service of the Federation.
Abioye said, “We have written several letters to the government about it, and it was part of our demands.
“We want it to be carried out in all the aviation parastatal agencies.
“We also believe that there should be less interference in the running of these agencies.
“The exercise that was carried out in FAAN on Wednesday ought not to have happened in the first instance, if we have done our work properly.
“What usually happens is that political patronage took precedence over public service rules and regulations.
“You can imagine a young graduate of 10 years, who was appointed a general manager, which will take a career public servant 26 years to get to.”
According to him, these agencies should be allowed to work within the purview of the acts that established them for the betterment of the industry, and the country in general.
Abioye also called for a stakeholders’ meeting where each of the parastatals would put forward the challenges limiting them from engaging in quality service delivery.
Some FAAN workers were seen yesterday at the Murtala Muhammed Airport, Lagos, headquarters of the agency, discussing the development in hushed tones.
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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