Business
Reps To Conduct Public Hearing On NAPEP
The House of Representatives recently in Abuja, resolved to mandate some of its committees to conduct public hearing on the National Poverty Eradication Programme (NAPEP).
The committees are on poverty alleviation, labour, employment and productivity as well as the Committee on National Planning and Economic Development.
The committees are expected to report to the House within four weeks.
The aim of the public hearing is to capture the views of relevant stakeholders and experts on the best strategies to effectively reform NAPEP.
The public hearing is also geared toward alleviating poverty in Nigeria.
The resolution was sequel to a motion by Rep. Jerry Alagbaoso, which was adopted when put to vote by the Speaker, Aminu Tambuwal.
Leading debate on the merits of the motion, Alagbaoso said NAPEP was established in 2001 by the Federal Government to address poverty and its related issues in Nigeria.
The legislator observed that the 2010 target of eradicating poverty in the country was not realised due to ineffective strategies and poor implementation of the programme.
He expressed worry that some of the strategies adopted by the management of NAPEP in fighting poverty were not transformational enough to stand the test of time.
The lawmaker further expressed concern that the tricycles, popularly known as Keke NAPEP, were usually released to beneficiaries of the programme at very high rate.
He said that NAPEP was supposed to restore people’s confidence in the growth of the nation’s economy and create wealth for Nigerians in the rural areas.
“The question is, has NAPEP been able to restore hope to the economic growth in the rural areas?’’
He urged the relevant committees to hold public hearing, to reform the alleviation programme.
In their various contributions, Reps. Arua Arunsi and Fort Dike said that the importance of reforming NAPEP could not be overemphasised.
“The people who designed this National Eradication Programme designed it to alleviate poverty in Nigeria,” Dike said.
He said it was unfortunate that the programme had not been very effective.
None of the members opposed the motion and the speaker referred it to the relevant committees for more legislative input.
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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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