Business
Police To Screen Successful Bank Applicants
Indications emerged in Abuja on Thursday that the Nigerian Police Force might begin to screen prospective bank workers before they are eventually engaged by banks. Our Correspondent gathered that this was part of the resolutions reached when some bank chiefs met with the Inspector-General of Police, Mr. Ogbonna Onovo, at the Force Headquarters in Abuja on Wednesday. Though details of the meeting were sketchy, our correspondent, however, learnt that the Police boss discussed several ways, which would help reduce crime within the banking sector. The Screening of the prospective workers, according to the arguments put forward at the meeting, will help to know the background of those to be employed. It was, however, not clear if the screening exercise would be extended to those already working in the banks as part of the strategies to minimize or eradicate fraud in the sector. It will be recalled that a former IGP, Mr. Mike Okiro, had on several occasions attributed the high rate of fraud and robberies in the banks to the connivance of some of the worked with criminals. Apart from the screening exercise, the meeting between Onovo and the bank Chiefs, according to a source close to the meeting, also deliberated on the need for the bank’s premises, which in turn would reduce the vulnerability of bullion vans to attacks. The force Public Relations Officer, Mr. Emmanuel Ojukwu, confirmed the meeting. He said the meeting also resolved to reduce incidences of short-payment and Automated Teller Machine fraud. He however, refused to give the details of the arrangement due to security implications. He said, “The Nigeria Police Force is putting heads together with Nigerian banks on how to stem The Tide” of bank-related crimes. “At a meeting chaired by the IGP at the FHQ, the Police leadership and the bankers adopted strategies to enable the banks render better services to the citizens.” “Part of the strategies include further reinforcing the bank premises and reducing the vulnerability of bullion vans. The meeting agreed on modalities to reduce the incidence of short-payment in banks, ATM frauds, the circulation of mutilated notes and improvement of background checks of bank staff.” “The Police and service providers pledged to ensure a congenial environment for the conduct of legitimate business in banks in Nigeria”.
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.
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