Business
PHCN Workers Threaten EFCC Over Arrest
Workers of the Power Holding Company of Nigeria (PHCN), have threatened to withdraw their services from all Economic and Financial Crime Commission (EFCC) formations nationwide if the anti-graft agency does not apologise for arresting their staff.
The threat is sequel to last Thursday’s arrest of two workers of PHCN by EFCC.
In a statement issued on Tuesday and made available to newsmen, PHCN’s Head of Information and Research, Comrade Reuben Peter Orlu, stated that on the fateful day, gun-trotting members of EFCC abducted PHCN workers at their national secretariat in Yaba, Lagos without following due process.
Comrade Orlu condemned the act, saying it amounts to “intimidation and harassment on our members by officials of the anti-graft agency.”
“We, therefore, demand an in-depth investigation into this abnormality of the EFCC”, the statement said.
The statement continued: “We believe that under normal circumstances, the EFCC would not have displayed such high level of unprofessionalism and unprocedural norms exhibited to the National Union of Electricity Employees, which is why we consider an in-depth investigation into the anomaly of the EFCC absolutely imperative.
“In the circumstances therefore, we demand an unreserved apology from the EFCC to assuage us in the inherent mental torture, traumatic and intimidating spook by the Commission.
“Otherwise, we may be forced to withdraw our services from all EFCC formations nationwide”, he threatened.
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.
