Business
…Sensitises Stakeholders On Speed Limit Enforcemnt
The Rivers State Sector
Command of the Federal Road Safety Corps (FRSC) has held a stakeholders’ sensitisation forum on the implementation of the installation of Speed Limiting Device in inter-city transport vehicles in Nigeria.
Speaking at the event which was held at the Command’s Conference Hall in Port Harcourt Friday, the sector commander, Mr. Andrew Kumapayi said the 2015 third quarter stakeholders forum was focused on collaboration and strategies towards securing the roads in the state and ensure the safety of all road users.
Kumapayi noted that road traffic crash injuries are fast becoming a major source of public health concern, pointing out that World Health Organisation (WHO) in their 2004 report put the annual death toll from crash injuries at about 1.2 million yearly, while it had been predicted to be the third killer by the year 2020, if nothing is done to reverse the trend.
According to him, the FRSC had put in place a number of measures aimed at reducing fatality rates on the roads, and opined that research had shown that speed limit violation had been one of the major causes of road traffic crashes, stressing that with the expiration of the deadline on September 1, 2015, the corps had no option than to commence its enforcement.
He therefore reminded all stakeholders especially fleet operators and transport unions to ensure compliance in installing their speed limiting device as its potential benefits are enormous.
Also speaking , the Zonal Commanding Officer of FRSC, Mr. Vulus Darwang stressed the need for the enforcement of the implementation of the Speed Limit Device as Nigeria had been regarded as one of the worst offenders, because over 50.8 per cent road crashes were caused by over-speeding, and called on all to joint hands and reverse the trend.
Darwang said the earlier deadline of June 1, 2015 was shifted in order to reach out to many road users especially the stakeholders, disclosing that the first phase is for commercial vehicles while the second phase would be for private vehicle owners, and enjoined both intra and inter-state motorists to install the device to avoid the wrath of the Command.
Collins Barasimeye
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.
