Business
Criticisms Trail Senate’s Move To Amend Trade Unions Act
The Conference of Nigerian Political Parties (CNPP) last Thursday in Lagos criticised the move by the Senate to regulate and reform the labour movement in the country.
The Secretary General of CNPP, Chief Willy Ezugwu, said the Senate’s attempt at amending laws governing the operations of labour unions was unnecessary.
Our correspondent reports that the Senate had on Wednesday threw out a bill seeking to amend the Trade Unions Act 2005.
The bill, sponsored by Sen. Heineken Lokpobori (PDP-Delta), wants labour unions to put decisions to call a strike to vote by workers.
“There is nowhere in the world where the National Assembly takes on labour unions.
“Trade unions should be left to do their own business,” he said.
Dr Frederick Fasheun, the Founder of Odu’a Peoples Congress (OPC), said the move was not in tune with the 1999 constitution.
“Our constitution, with its imperfection, guarantees freedom of association and freedom of speech.
“So, how can the Senators now desert the constitution they swore to defend? It is unconstitutional, wrong and unfair,” he said.
In his comment, the National Chairman, the Peoples Progressive Party (PPP), Mr Damian Ogbonna, advised labour unions to defend their independence.
“Labour unions should maintain their independence by not receiving any form of assistance or funding from government at all levels,” he pleaded.
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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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