Business
Man Bags One Month Imprisonment For Misappropriation
An Abuja Senior Magistrates’ Court yesterday sentenced a 24-year-old man, Rabiu Abdullahi, to one month imprisonment on a one-count charge of criminal misappropriation.
Senior Magistrate Asmau Akanbi, who sentenced Abdullahi, a resident of Karu village, in Nasarawa State, however, gave him an option to pay N2,000 fine.
Police prosecutor Francis Udofia had told the court that the crime was reported at the Karu Police Station on February 19 by Daibo Mohammed of Angwan Hausawa, Karu.
Udofia said the complainant on February 3 entrusted his brown colour rug valued at N18,000 to the convict for washing.
He said the complainant made N500 advance payment to the convict to enable him carry out the job.
Udofia said the complainant failed to carry out the work and dishonestly converted the money to his personal use.
According to the prosecutor, the offence contravenes Section 308 of the Penal Code.
When the charge was read to the convict, he pleaded guilty and begged for leniency.
However, Senior Magistrate Asmau Akanbi sentenced him to one month imprisonment, with an option to pay N2,000 fine.
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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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