Business
Comission Wants Policies, Infrastructure To Promote Digital Innovations
The Economic Commission for Africa (ECA) has called on African governments to implement policies and establish infrastructure that would promote digital innovations to solve the continent’s development challenges.
A statement from the ECA, on Sunday, quoted Mr Jean-Paul Adam, Director, Technology, Climate Change and Natural Resources Management at the commission as making the call at a side event to the ongoing 53rd session of the ECA Conference of Ministers.
The event was tagged “Driving Africa’s Industria-lisation Agenda by Investing in Youth’s Digital Innovations Post Covid-19.
In his keynote address, Adam noted that young entrepreneurs could propel Africa’s industrialisation, emphasising that the youth were a critical part of recovery and reset in response to the pandemic.
“We need to reset our development framework for Africa to succeed and digitalisation will play a key role in this,” he stressed.
The director also explained that the reset was about reconsidering sustainable development for Africa and tapping the energy of young people to build forward better.
“Young people are key agents of that reset, the digital space should be one of empowerment and not restriction.” Adam said.
He further said Africa was impacted more than other regions in the context of Covid-19 and climate change, due to its vulnerability, lack of safety nets and minimal fiscal space to adequately respond to such issues.
“We need to respond. We need to address the immediate impact we are facing in terms of lost jobs, in terms of economic opportunities.
“These have been disrupted and we also need to recover from the initial impacts of the crisis of this unprecedented magnitude.” he said.
Adam disclosed that 110 million young people entered the job market in the last 10 years, but only 37 million wage paying jobs were created.
He said the pandemic, however, had presented opportunities for a reset and green recovery for Africa around sustainable energy access for more than 590 million people, without access to electricity.
Furthermore, Adam stres-sed that digital services were also an opportunity to move Africa’s commerce into the digital space.
He said consideration should be given to specific digital skills which should be invested in and upgrading digital infrastructure like the internet, enhancing digital services, digital identities, and online payment systems.
“We have to ensure access to markets for young people,” he said.
He, however, added that young entrepreneurs must have access to finance and the procurement space.
“E-commerce has emerged as a trade facilitator and the AfCFTA must be leveraged to facilitate trade for young people.
“If we empower young people to enter the digital space and create their own business space, we can expect that every young person will probably create one other job for another person.
“This is the promise that we have for that reset in reviewing the development architecture we believe is necessary for the empowerment of young people and green recovery for Africa.” Adam said.
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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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