Business
Mile One Market Resettlement Saga
The first phase of the Rivers State Government funded reconstruction of the Rumuwoji (Mile 1) market in Port Harcourt has been concluded and a process is already on to allocate the 1,000 stalls to traders.
From available records, the last fire incidence witnessed at the Mile I Market occurred on January 6, 2004. This was after a sequence of such other fires, some of which were blamed on arson.
For a long time after this latest disaster, traders conducted their businesses under canopies. In fact, the entire market could be described as a forest of multicoloured umbrellas.
This was indeed the situation of things while the commission of inquing constituted by the then governor, Dr. Peter Odili, strived to uncover the causes of the fire incidence.
It would also be recalled that contract for this first phase of reconstruction was awarded by the Celestine Omehia administration in July, 2007 to Diamond Group (Nigeria) Limited at a cost of N3 billion.
The initial contract scope was for delivery to the state government of 1000 lock-up stalls in a modern, state- of- the- art, multiplex structure on three floors; but based on expert advice, the design was changed to a two-floor structure.
Daniel Iheme is the chairman of Mile One Market Traders Association (MOMTA). According to him, Omehia government did inform the traders union of the state’s intention to rebuild the market and the need for the traders to relocate temporarily.
On assumption of office in October 2007, the incumbent governor of Rivers State, Rt. Hon. Chibuike Amaechi did not put aside the reconstruction plan. In fact, on his maiden visit the market, the governor reassured that the reconstruction work would continue.
According to Iheme, “Governor Amaechi in his speech during his visit assured traders that they will be returned back as soon as the rebuilding is completed.”
Another committee was set up by the governor in 2009, according to the MOMTA chairman but traders did not know the committee members until recently when a publication was made, directing them to pay for the stalls.
The publication made by the committee on Mile One Market stalls allocation, headed by the Rivers State Attorney-General and Commissioner for Justice, Ken Chikere, making payment of the sum of N10,000 open to members of the public attracted several reactions from traders, who had expressed fears that the exercise might be hijacked by politicians, rather than resettlement of the displaced traders.
The five-man committee for allocation of Mile One Market stalls which also include the Commissioner for Women Affairs, Mrs. Manuela George Izunwa; Commissioner for Environment, Kingsley Chinda; Works Commissioner Dakuku Peterside and the Urban Development Commissioner, Osima Ginah, had severally reassured traders of the committee’s commitment to give them priority.
In a press statement, Osima Ginah had said that preference will be given to displaced traders, even though the process will be thrown open to all traders, including the displaced traders who must purchase, fill and submit the stall allocation forms.
In his word, Ginah said, “The governor has directed the committee to distribute the stalls equitably to displaced traders. We collated data of genuine displaced traders”.
He highlighted that the committee is working with such data and will ensure that displaced trades are given stalls before other traders, and dispelled rumours making the rounds over alleged plan to short change traders that were displaced.
Barrister Ginah also posited that the completed market structure had 1,000 stalls, while displaced traders of that section of the market are between 650 and 700 traders, and that the second phase of the construction will commence after the first allocation is concluded; and will be given out on payment of minimal fee to government by traders.
But the traders union is strongly disputing the figure given by the commissioner as the number of displaced traders and this has been a source of worry to them as they have said that the displaced traders are 1,304, comprising 654 at Cultural Centre and 650 at Ojukwu field, pointing out that the said 1,000 stalls built by government is not even enough for the displaced traders.
Giving strength to the statement of Osima Ginah, the chairman of the committee, Ken Chikere, in his recent press statement reassured that the allocation of the shops will be transparent in all fronts.
According to him, “The current sale of forms is going on smoothly at the Ministry of Justice, and all stakeholders are being carried along”.
Barrister Chikere in his statement also said that the committee will make use of the registers at its disposal which include the one submitted by Port Harcourt City Local Government (PHALGA), the traders, and the one raised by the committee for confirmation.
He assured traders of the committee’s preparedness to give them priority before any other persons and solicited for cooperation of all stakeholders in the exercise.
According to the secretary of MOMTA, Mr. Uche Marvelous, “Traders are appealing to the governor to clear the air by coming up to address this matter. Paying N10,000 is not the problem, but we are worried on the fate of displaced traders. Let the governor also remember the promise he made to traders on resettling them after the completion of the project”.
Furthermore, the secretary posited, “our fear is that the other traders that are yet to move might create some difficulties, if those at the playground and cultural centre are not reallocated, and how would the Rumuwoji community react on traders if they are not reallocated. That is why we want the governor’s intervention on this mater”.
It is true that there are still uncertainties concerning the re allocation of Mile One traders, but it is ideal that issues be sorted out accordingly to make for meaningful progress in the system.
Corlins Walter
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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