Business
PPMC Commences Repair Work On Vandalised Pipeline
The management of the
Pipelines and Products Marketing Company (PPMC), yesterday said that repairs have commenced at the recently-attacked System 2B pipeline at Akute-Itashi village, a suburb in Ogun.
The Manager, Public Affairs and External Relations of PPMC, Mr Nasir Imodagbe, confirmed this in a telephone interview with newsmen in Lagos.
Suspected pipeline vandals who are still at large, on the evening of Jan. 19, ruptured a PPMC pipeline at Akute-Itashi village.
Imodagbe said, however, that the fire that erupted from the vandalised line had been put out, adding that the company’s engineers had commenced repairs on the vandalised portions of the pipeline.
He assured that pumping of products will start on Jan. 21, immediately they completed the ongoing repairs at Akute-Itashi village.
The Public Affairs Officer, however, attributed the incessant pipeline explosions in the area to continuous vandalism of the pipeline.
“We have put out the fire and repairs have commenced on the line. I can assure you that pumping of products will resume immediately the repairs are completed today.
“The explosion which occurred on Sunday was due to the attack on the System 2B pipeline by vandals, to sIphon petroleum products,’’ he added.
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.
