Business
Hospitality Indusry Urges Improved Power
Restaurant and bar operators in Port Harcourt are not happy over the epileptic power supply in Rivers State.
The operators, under the aegis of Restaurant and Bar Operators Association of Rivers State in a statement by its President, Mrs Eunice Fente and made available to The Tide correspondent said the poor electricity supply in the state had been affecting their business adversely as they could not satisfy their customers effectively.
The situation had discouraged customers from patronising them as they are experiencing poor patronage due to poor power supply, the statement said.
According to the statement, those that are not having a functional generators are worse hit as they could not freeze their markets, thereby affecting the gain they could make for the day, as they purchase fuel to run their plants daily, it stated.
The statement further noted that the situation if not checked could send some of their members back of the labour market as its negative impact calls for urgent attention.
They appealed to the authorities to improve on their power supply to justify the huge sums of money paid monthly for the services that they never enjoy.
According to them, with improved power supply, the economy especially their hotel business could flourish, and further called on the authorities to re-strategise and meet the demands of their consumers in the state.
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.
