Business
Reps Urge FRSC To Impound Vehicles Violating Regulation
The House of Representatives on Wednesday urged the Federal Road Safety Commission (FRSC) to ensure strict enforcement of laws on latching of articulated vehicles.
This followed the adoption of a motion entitled “Calling the FRSC to Enforce Regulation on Latching of Long Vehicles Carrying Containers on Nigerian Roads”.
Sponsor of the motion, Rep. Mojeed Alabi expressed concern that neglect by articulated vehicles and trailers’ drivers to properly latch their vehicles while carrying items had often led to accidents on the roads.
Alabi, who expressed worry that the trend had led to loss of lives and property, canvassed impounding of vehicles of defaulters.
According to him, Sections (5) and (10) of FRSC Act and the National Road Traffic Regulations provide for latching of articulated vehicles and that defaulting companies and transporters should have their vehicles impounded and prosecuted.
In spite of the provision, according to him, drivers and owners of articulated and long vehicles continue to default, thereby endangering other motorists.
Alabi added that notwithstanding attempts by some state governments to enforce regulation, “records show that these containerized trucks and petroleum tankers continue to wreak havoc on Nigerian roads.
“They account for half of the over 200 deaths by accident on Lagos roads recorded in 2016 given that Lagos houses the highest number of articulated and long vehicles in the country,” he said.
He stressed that lack of enforcement of the laws on latching of articulated vehicles had continuously affected and disrupted social and economic activities on the roads.
In his contribution, Rep. Daniel Henry said that the FRSC had turned into money-making organisation instead of prosecuting defaulters.
According to him, officials of the FRSC concentrate on demanding for things like triangle, spare tyres and vehicle licence whereas they pay less attention to vehicles that park indiscriminately along the roads, posing danger to other road users.
In his ruling, the Speaker of the House, Mr Yakubu Dogara, referred the motion to the Committee on FRSC to interface with the Directorate of Motor Vehicle Administration to address the concern and report back within four weeks.
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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