Business
Association Cautions On Cost Of Cargo Clearing
The Shippers Association of Lagos State has warned that the cost of clearing cargo in some Nigerian ports may soon increase by 15 per cent to 25 per cent.
Mr Jonathan Nicol, the general secretary of the association, gave the warning in an interview with newsmen on Sunday in Lagos.
He said that the increase might be connected with the increase in port charges paid by shippers.
“Port charges which we thought should have been harmonised by now are still being increased without notice.
“We are in constant dialogue with the Nigerian Shippers’ Council on payment of shipping and terminal charges,” he said.
Nicol advised APM Terminals in Apapa to review its system of examining containers to reduce the number of days spent in inspecting containers.
“It takes seven days for a container to be examined and this is unacceptable.”
The association’s scribe urged the Nigeria Customs Service (NCS) to take over destination inspection from service providers, saying the inspection is the statutory function of the service.
He alleged that service providers were making a lot of money each year from the 1 per cent Comprehensive Import Supervision Scheme charges paid by the shippers.
He suggested that para-military service operating in the port should be overhauled to handle inspection of cargo to facilitate quick delivery of cargo.
Nicol also urged the NCS to remove bottlenecks militating against cargo delivery after such cargo had been physically examined.
“If shippers have paid their customs duty, we expect the NCS to release their goods after they have been physical examined.
“It should not take more than three hours for a consignment to leave the port after release,” he said.
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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