Business
Unions Shut Caverton Helicopters’ Operations
Aviation trade unions have shut down the operations of Caverton Helicopters at the Murtala Muhammed International Airport , Lagos over alleged sack of 150 workers.
The unions – the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and the National Union of Air Transport Employees (NUATE) – accused the airline of anti-labour practices.
The Tide source reports that members of both unions, chanting various solidarity songs, barred workers and clients of the airline from entering its premises for several hours.
The protesters carried placards with inscriptions such as “Casualisation/Outsourcing is Evil, Workers Say No”, “No Alternative to Condition of Service, No to Impunity in Caverton” and “Workers’ Rights Must be Protected”.
However, there was a tight security presence as policemen from the Rapid Response Squad and other aviation security personnel were on ground to forestall any breakdown of law and order.
Addressing the protesters, Mr Olayinka Abioye, General Secretary, NUATE, said the unions decided to shut down the airline’s operations in Lagos, Warri and Port Harcourt to protect the rights of workers.
Abioye flayed the decision of Caverton’s management to declare 150 workers redundant in view of the current economic situation in the country.
According to him, the affected workers were paid only a month salary in lieu of notice despite some of them having spent up to 13 years in the airline’s service.
He further alleged that some of the workers were outsourced to another company, Bluebay, and their salaries were slashed without any negotiation with labour.
“We are shocked that management chose this ignoble path of ambushing the union by declaring a whopping 150 members of staff redundant, while we were still discussing and negotiating a new salary structure and condition of service.
“We believe that this indecorous position is ultra vires, null and void and of no effect.
“Our principle of industrial relations is not to use “carrot and stick” tactics in negotiation and go ahead and shoot the union at the back.
“We want to inform the management of Caverton Helicopters that unless they reverse themselves by concluding the ongoing negotiation that was aborted, we may not guarantee industrial peace in their locations across Africa,” he said.
Abioye emphasised that the dream of the airline’s founder, Chief Remi Makanjuola, was to empower Nigerians, provide work for them and develop the country as a whole.
He alleged that since the company was handed over to Makanjuola’s son, it had been grossly mismanaged and might be run aground if care was not taken.
Abioye called on the Nigerian Civil Aviation Authority (NCAA) to carry out a financial audit on Caverton Helicopters to know their current financial status.
Also speaking, Mr Frances Akinjole, General Secretary, ATSSSAN, urged aviation companies and airlines to stop treating Nigerian workers as slaves.
However, Caverton had in a letter addressed to the NUATE, which was sighted by our source claimed that the sacking of the workers was based on the review of its operational exigency and economic climate in the country.
The letter dated Oct.28 and signed by the airline’s Industrial Relation Manager, Mr Segun Alebiosu, said the move was in accordance with Section 20 of the Nigeria Labour Act.
It said the affected workers were offered accrued salary up to the effective date, one month salary in lieu of notice and contributory pension up to the last full month.
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.
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