Business
Labour Canvasses Stronger Electoral System
Labour leaders in the South South geo-political zone have called for the strengthening of the electoral process to guarantee free and fair elections ahead of the 2015 general elections.
Rising from a one day stakeholders meeting held in Port Harcourt under the auspices of the Centre for Development and Support Initiative (CEDSI) and the United Nations Development Programme (UNDP), the labour leaders also restated their opposition to the removal of the minimum wage from the exclusive to the concurrent list.
Part of the communiqué made available to newsmen at the end of the meeting, said that the Independent National Electoral Commission (INEC) should be granted full autonomy, while the Justice Uwais report on electoral reforms should be adopted.
They also said that the office of the Accountant General of the Federation should be granted full Independence, while the issue of social security for Nigerians should beenshrined in the constitution.
Others include, granting full autonomy to local government councils in the country, removal of immunity from both the President and Governors in the country, while all legal institutions in the country should be strengthened to tackle corruption.
The Country Director, Centre for Development and Support Initiative (CEDSI), Mrs Mina Ogbanga, said that the meeting was held to reinforce the position of labour in the zone on some national issues, against the backdrop of the on-going constitutional amendment.
Ogbanga who spoke through her Finance and Administrative Director, Mr. Kuna Porokie, said that the stand of labour on the whole issue was that of good governance.
Also speaking, the Treasurer of the Trade Union Congress (TUC), Rivers State, Dr. Chris Mbata, said that TUC would continue to advocate for true federalism in the country and declared that the position of labour on the issue of minimum wage, was that, there could not be an isolation in the implementation of true federalism, noting that “if you want to remove minimum wage from the exclusive list, then implement true federalism in all sectors”, he said.
The facilitator of the meeting, Mr. Henry Udoh, said that a meeting would be arranged with all state Houses of Assembly in the South South zone on the issue.
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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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