Business
Task Force Raids Street Traders In Lagos
Goods worth thousands of naira were on Monday confiscated and taken away by task force in-charge of the Lagos Central Business District (CBD) for alleged street trading and other offences.
Our correspondent reports that several wares, tables and chairs were destroyed by officials of the task force for obstructing free flow of traffic in the area.
Some of the officials who spoke with newsmen said that the traders had to be raided after efforts to persuade to leave the streets failed.
“The act was carried out after several notices were served on the traders to stop trading on streets in the CBD, Mr Fatai Jenmi, Special Assistant, Operations, said.
Jenmi told our correspondent that the task force had called the traders to several meetings but the meetings yielded no result.
“We have used megaphone to talk to them many times and even on one-on-one basis”.
“People come to the market and complain of not finding space to walk because every where on the road had been taken over by the traders”.
“We need manpower and the government should equip us very well because sometimes the traders engage us in a fight. We need the police to assist us,” he said.
Jenmi said that in spite of the daily seizure of their goods, the traders still displayed their wares on the road, thereby causing hardships to motorists.
One of the traders, Mr Chidoke Chinedu, who spoke to newsmen, said they had not left the roads because they had no alternative.
Chinedu pleaded with the state government to hasten the completion of the new Sangross market to save them from the daily harassment and embarrassment.
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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