Business
ITF Amendment Bill Scales Second Reading
A Bill to amend the Industrial Training Fund
( ITF) Act of 1971, last Thursday in Abuja passed the second reading at the House of Representatives.
The bill also seeks to empower the fund to design, set up and operate guidelines for training and certification.
According to the bill, the training and certification will be done at the states, local governments and the ward levels.
It seeks to establish area registries for maintaining up-to-date registration of certified artisans and technicians in all fields and in all parts of the federation.
Leading debate on the general principles of the bill, Rep. Chudi Uwazurike said the proposed legislation was to expand the scope of manpower by paying attention to entrepreneurship.
He said the bill would also set standards for artisans and technicians.
The lawmaker urged members to support the bill to empower artisans and technicians to develop the economy.
Supporting the debate, Rep. Chris Azubogu said that the bill’s importance could not be over emphasised.
He said it was imperative to standardise the way artisans carried out their activities, to help create manpower and reduce unemployment in the country.
Contributing, Rep. Chris Etta said it would assist “in creating calculated economic improvement”.
Also contributing, Rep.Aminu Shagari said the law was a good one, adding that it would give the teeming youths the opportunity to grow and be self reliant.
However, the bill received strong opposition from some members who felt it would be a duplication of the functions of what some government agencies were empowered to do.
Rep. Aisha Ahmed cited the National Directorate of Employment (NDE) as an agency that organised training programmes like carpentry and others for youths.
Also opposing it, Rep. Shehu Garba said the amendment sought should be an intervention and not to set standards for artisans and technicians.
He suggested that the bill should be an intervention “and not to encroach on roles already carried by existing agencies’’.
Notwithstanding the opposition, the bill scaled through to second reading when put to vote by the Deputy Speaker, Rep. Emeka Ihedioha.
Ihedioha, therefore, referred it to the Committee on Industry for more in puts.
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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