Business
NUFBTE Threatens To Shut Down Food Sector Over Unfair Practices
National Union of Food, Beverage and Tobacco Employees, (NUFBTE) has threatened to shut down the entire food and beverage sector, over alleged unfair labour practices by some employers in the industry.
President of the Union, Comrade Lateef Oyelekan, in his address during the union’s National Executive Meeting (NEC) in Asaba, lamented the anti-labour practices by management of International Distillers Plc, Ota, Ogun State, saying that the action of the company could trigger industrial arrest, which may degenerate into closure of the entire industry.
Comrade Oyelekan in his address made available to The Tide called on the employers association to call the company and others like it to order in a bid to avert major industrial unrest in the sector.
“We have some labour friendly employers who have in policies and practices, not only given some levels of motivation to our members, but also, full support to the union continues to grow from strength to strength”, he said.
Oyelekan continued that “some of the employers since the past one year that we set up the Solidarity Infinite Venture, have given full support to the venture by ensuring that their products are not in short supply”.
Ironically, he said, there is no gain saying the fact that there are anti-workers employers in the sector who do not wish the workers well, who are not better than the slave masters of old and who we are also publicly declaring the worst employers in the food and beverage sector.
“One of them is the Intercontinental Distillers Plc, Ota, Ogun State. The management of the company is number one workers’ enemy in the sector. We want to use this medium to sound a note of warning to the management and others like it to turn a new leaf and embrace positive industrial relations.
“We are also using this avenue to call on the employers’ federation to call this company and others like it to order because we will not hesitate to shut down the entire sector because of their anti-workers posture.
Oyelekan used this medium to urge President Goodluck Jonathan to provide conducive environment for industries to thrive, noting that many industries closed shop while others are struggling to remain afloat.
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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