Business
NUPENG Ready To Resist Retrenchment In NNPC

L-R: Manager, Field/Government Operations, ExxonMobil, Mr Adeyemi Fakoyejo, member, Rivers State House of Assembly representing Eleme Constituency, Hon Josiah J. Olu (middle), and Caretaker Committee Chairman, Onne Youth Council, Hon Sameul Onwinkore, during the handover ceremony of a bus donated to Onne Youth Council by NNPC/Exxon Mobil on Thursday. Photo: Egberi A. Sampson
The Nigeria Union of Petro
leum and Natural Gas Workers (NUPENG), has kicked against the Federal Government’s approval given to the Minister of State, Petroleum, Dr. Ibe Kachikwu, to commence the final phase of the restructuring of the Nigeria National Petroleum Corporation (NNPC) that would result in the disengagement of the union members working in the corporation.
Speaking to The Tide last Friday in Port Harcourt, the Union’s National President, Comrade Igwe Achese, said the union would resist the proposed retrenchment and embark on a joint protest with the senior staff union PENGASSAN if the minister carries out any retrenchment exercise.
Achese said the union would not fold its hand and watch it members thrown into the unemployment market as a result of inconsistent policies of the Federal Government in the oil and gas sector.
The union’s president warned the management of the NNPC against the continuous violation of the extant labour law of the country by the NNPC Management current policy to engage casual workers.
He said that the NNPC workers should be commended for their dedication and commitment to their jobs even while working with obsolete equipment in a challenging environment considered very hostile to the workers.
The union leader advocated for a meaningful dialogue among the various stakeholders in the oil and gas sector on how to proffer solutions to the myriads of problems facing the sector.
Philip Okparaji
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.
