Business
Lagos Plans New Town Dev
The Lagos State Commissioner for Housing, Mr Bosun Jeje, has said that the ministry would soon develop a new town within the New Iba Town Development Scheme.
Jeje disclosed this when he visited the site at Ijagemo, off Ijagun-Igando-Idimu area of Alimosho Local Government in the state.
He said that the ministry would reclaim about 500 hectares of land by sand filling, “but we are starting with about 50 hectares”.
Jeje said that those occupying the areas had encroached on government land illegally.
“We have a complete plan now to develop a new Iba town.
”The new town consists of residential units, industrial and commercial areas as well as areas for private developers and it will be all encompassing.
“The site inspection is to make sure that everything kick-off on time to enable the state government to deliver on its electoral promises,’’ he said.
Jeje said that the whole area would be sand filled, starting from the traditional routes.
He said that a new road would be developed to link the Lagos State University (LASU) from the Lagos-Badagry expressway.
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.
