Business
Fashola Orders Suspension Of Sand Mining
Governor Babatunde Fashola of Lagos State has ordered the immediate suspension of surface sand mining in Badagry Local Government Area.
The Commissioner for Energy and Mineral Resources, Mr Taofiq Tijani, stated this in a release issued in Ikeja .
Tijani said that the order was in response to petitions from “concerned citizens” on the dangers of uncoordinated surface sand mining in the area.
He added that the action was equally premised on the damage done by the miners on the state’s ecosystem.
The commissioner said the governor had initially approved sand mining in shallow creeks in the area, after due diligence of the site and permit granted from the ministry.
He disclosed that the governor had advised miners in the state to form themselves into cooperatives to be able to access loans to acquire equipment needed for shallow creek water dredging.
Tijani said the government would streamline activities of surface sand miners and dredgers in line with international standards.
He warned all stakeholders to adhere strictly to the governor’s directive or face the full wrath of the law.
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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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