Business
Slok Group To Launch Made-In-Nigeria Phone, Soon
The Slok Group will
soon launch a Nigerian made smart mobile phone into the local African and Asian markets. The phone will be sold at giveaway price in order to make it affordable to the ordinary users.
Chairman of the Slok Group and former governor of Abia state, Chief Orji Uzor Kalu, said the phones is being manufactured in the country and would be rolled out soon.
Kalu said the phone would have the lowest end of the mobile phone market and assured that the presence of the phone in the market would meet the yearnings of Nigerians for the type of utility phone they have long desired.
He said “very soon the Slok Group will roll out the first ever indigenous made mobile phone called Slok Mobile. It is a phone we have built to be sold in Nigeria and across Africa.
“I am rolling out the Slok telephone in less than eights time. We will have the lowest end of the mobile phone market.’
The Slok telephone, he added has all the packages of a modern phone and it is going to be a utility phone that Nigerians have been looking for.
He noted that Slok Group is truly an African company but proudly Nigerian. “So, this is what is coming on board. In the next eight weeks, the phones will be on the streets of Nigeria. We are going to roll out the phones on the Nigerian, Congo, Guinea, South Africa and other African markets.”
According to Kalu, the phone has patent right in the United States and other countries as well as Europe.
The former governor also said as a business man, he would want Nigeria to remain one, united country and that is the wish of every business man and woman in Nigeria including foreign investors.
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.
