Business
CPC Decries Poor Funding
Head, Lagos Zone of Consumer Protection Council (CPC) Mrs Ngozika Obidike, on Tuesday said that funding and inadequate media support were the major constraints of the council.
Obidike told newsmen in Lagos that the council needed more funds and media support to carry out its duties more effectively.
“The Consumer Protection Council cannot independently provide awareness to all Nigerians, we need funding and the support of the media, but this has not been so.
“Every Nigerian is a consumer. The Consumer Protection Council is there to protect consumers’ rights, but most Nigerians do not even know they have rights.
“The council has enough manpower to attend to consumer complaints, but the funds are not sufficient to carry out this Herculean task,’’ she said.
Obidike said that consumers needed to know that they had the right to education, awareness and choice as well as the right to complain about defective goods or poor services.
He urged the Federal Government to allocate more funds to the organisation and appealed to the media to assist in creating public awareness about the activities of the council
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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