Business
Beach Managers Lament Effects Of Ocean Surge
Managers of the Lekki and Alpha beaches in Lagos State on Monday decried low patronage due to ocean surge.
The managers told newsmen in Lagos that in the last few months, the surge had eroded about 100 metres on either sides of the beach.
They blamed the encroachment on shipwrecks in the Lagos Lagoon, and urged immediate intervention of the federal and Lagos State governments.
Mr Ezekiel Moses, Manager of Lekki Beach, said that the surge had led to a drop in the number of tourists visiting the beach during weekends and special events.
Moses said there the number of tourists to the beach during special events had dropped from about 10,000 to about 1,500.
Moses also expressed worry that the ocean surge was a threat to lives and property around the beach.
“Our business on the beach has been quite dull because a lot of tourists are becoming afraid of being swept away by water.
“Not too many people come around these days; there is low patronage; this is affecting our income,’’ he said.
The manager said the low patronage could compel the beach’s management to lay off some workers.
Mr Evans Basil, Manager of Alpha Beach, also blamed the surge on the shipwrecks.
Basil said that the beach, which used to be full of fun, was fast becoming a shadow of itself.
“Already, a large portion of Alpha Beach has been lost to rising ocean surge. Business was at its lowest ebb.
“The coconut trees that adorned the beach environment are gradually being swept away by sea encroachment,’’ he said.
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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