Business
Flyover Traders Kick Against Illegal Levies
The General Secretary of the Flyover Petty Traders Association, Port Harcourt, Mrs. Justina Ufot, has raised an alarm over the collection of table and space fees from them, on a yearly and weekly basis, without receipt.
Ufot who disclosed this in an exclusive interview with The Tide on Wednesday, lamented the negative effect of the collections on their small businesses.
She alleged that traders at the flyover park pay a mandatory N10,000 every year irrespective of the size of the space occupied.
Ufot also added that apart from this, they also pay the sum of N600 per week to enable them continue doing their business.
The petty traders’ boss who only identified those involved in the collections as land owners said they had no option but to comply.
According to The Tide investigations, the payment of the sum of N10,000 a year takes place at a makeshift office in the popular Ikoku market in Mile Two Diobu.
When The Tide visited the area, and made some inquiries, a visibly worried middle aged man explained that he was not competent to speak on the matter.
He, however, disclosed that the collections had blessings from above.
“Look, Mr. Pressman, those collections are not illegal because it is from above”, he claimed.
The Tide further gathered that the areas that are covered by these collections include, the flyover area, motor parks, including food vendors, amongst other.
However, another official of the association who asked not to be named claimed that the state governor during his electioneering campaigns promised to come to the aid of the traders, through empowerments.
The official expressed the hope that the governor would keep to his promise as, according to him the traders have made efforts to see the governor to no avail.
It could be recalled that few weeks ago, the state governor banned all forms of illegal collection of fees and taxes pending harmonization of such processes.
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.
