Business
Traders Flay Closure Of Umuahia Spare Parts Market
Spare parts dealers at the Mgbuka Market in Umuahia, Abia
state, have flayed the closure of the market by the state government,
describing the action as unjustified.
“The closure is unjustified because government is yet to
complete the alternative spare parts market at Ohiya.
“ This action is causing us untold hardships,“ a spare parts
dealer, who simply identified himself as Chijioke said in an interview with our
correspondent.
Chijoke, who sells spare parts in the market, said that the
means of livelihood of the traders had been affected by the closure.
He said that “closing the market for one day means great
loss to us and our families, how much more for days.“
Another spare parts dealer, Mr John Chukwudi, said that the
traders expected to be treated with respect by the government.
“We are willing to move but let the government finish the
construction of the market we are to relocate to.
‘’It is simply insensitive to push us out of this place when
the Ohiya Market is not ready yet,’’ Chukwudi said.
An artisan in the market, Mr Kenneth Ogbu, said that the
closure of the market “had left him stranded“.
Ogbu, who specialised in the repairs of damaged car keys,
told newsmen that most of the traders had paid for shops at the new market at
Ohiya but were waiting for the market to be completed.
Mr Ejike Umah, a dealer in new and “tokunbo“ spare parts,
said that the closure “portrayed the government as insensitive to the plight of
traders.“
Ekikje said that the traders were concerned about the
security of their wares while the market remained closed.
Officials of the Abia State Ministry of Commerce and
Industry, accompanied by security agents and sealed the market and ordered the
traders to relocate to Ohiya.
Mr Ugochukwu Emezue, the Chief Secretary to Governor Theodore Orji, said on telephone that the closure was “part of
government’s measure to ensure that the traders relocated to Ohiya Market.
‘’This is the only way they can move because if you leave
them, they will not want to go to the new place, which is 100 per cent better
than their present location.”
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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