Business
Electricity Consumers Cry Out Over High Bills
Some electricity consumers living around Odogunyan Military Barracks in Ikorodu have condemned the high electricity charges they received in August and September.
The consumers also condemned the discriminatory bills in the community.
They told newsmen that the Ikeja Electricity Distribution Company had doubled and in some cases tripled its charges although power supply had deteriorated in the area.
The Chairman of Egba-Otun Community Development Association (CDA) in Ita-oluwo, Mr Saheed Yusuf, said that the electricity bills had been outrageous since August.
He told newsmen that houses within the CDA were charged the same rate until July when things changed.
“We all were billed a little above N3,000 across board up to July, but in August many of the houses were charged more than N7,000,
“Meanwhile, some mega structures and shopping complexes were billed about N2000 and others a little above N3000.
“The difference in the bills is questionable in a community where the electric company does not have a mechanism to measure what each house consumes because none of us has a meter.
“The practice used to be that whatever power is consumed by the entire community will be calculated and shared equally amongst the consumers as we have been made to understand,’’ Yusuf said.
A former Treasurer at Ereko CDA, Mrs Ruth Adaoha, said that the poor electricity supply since July to the community did not justify the bills they had been receiving.
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.
