Business
Operators Okay Freight Train Service
Terminal Operators in Apapa Port, Lagos, last Sunday said that the re-introduction of freight trains’ service by the Nigeria Railway Corporation (NRC) would enhance business transaction in the maritime sector.
The operators said that the inauguration of the container traffic train service from Lagos to Kaduna and Kano would transform and boost the nation’s economic activities.
Reports says that the NRC inaugurated the Lagos-Kaduna-Kano container traffic, four new locomotives and two telescopic cranes on Friday.
Chairman, Inland Container Nigeria Limited, Mr Tope Borishade, said that the benefits of the freight trains service were very enormous.
“Customers do not have to come to Lagos to clear their containers or goods.
“They use the computer system to clear them and the train will deliver it. It is safer to transport goods by train, “ Borishade said.
He said that the rail transport system would save a lot of customers the problem of travelling to Lagos to transact and clear their goods.
Borishade said that the re-introduction of the service would assist to de-congest the ports and make business more competitive.
Chief Operating Officer AMP Terminal, Mr Lawrence Smith, said that the operation of the new locomotives would benefit customers in Nigeria and Central Africa.
Smith said that the operation would increase internally-generated revenues for the government, adding that more people would be ready to do business with ease.
He said that terminal operators would work with relevant port security agents to curb any challenge that could arise in the operation.
Also, Mr Iheanacho Ebubeonu, General Manager, Public Affairs, Nigeria Ports Authority (NPA), said many business people would benefit from the operation because trains had the monopoly of carrying more goods at a time.
Ebubeonu said that the train service would be sustained since it delivered goods on time and would not delay to avoid incurring liability.
The two cranes and four locomotives cost NRC N2million and N1 billion respectively.
The freight service was revived after 17 years of inaction.
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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.
