Business
LG Financial Autonomy: NULGE Lauds House
The Nigeria Union of Local Government Employees (NULGE) has commended the House of Representatives for its support to granting financial autonomy to local government councils.
It would be recalled that a bill seeking to grant financial autonomy to local government councils recently passed for second reading in the House of Representatives.
The bill, sponsored by Rep. Nkeiruka Onyejeocha, Isuikwuato/Umunneochi Federal Constituency, Abia, seeks to abolish State and Local Government Joint Account, by altering Section 162 of the 1999 Constitution.
The bill, when passed into law, will establish Local Government Council Allocation Account, into which all funds to councils from Federation Account shall be paid into.
Disbursement of funds shall be effected through a bye-law passed by the local government legislative council.
Onyejeocha noted that the bill would strengthen the councils, as state governments had capitalised on the joint account to starve local government councils of funds.
NULGE President, Ebonyi chapter, Mr Leonard Nkah who spoke on the issue in a telephone interview, said the branch was gladdened by the passage of the bill for second reading in the House of Representatives.
“We at NULGE Ebonyi branch are gladdened and encouraged by ýthe successful passage of vital stages required towards granting local government councils financial autonomy.
“This is what NULGE has been advocating, abolition of the current system which has killed independence of local government councils and turned the system into area offices.’’
Nkah pleaded with the Senate to at the appropriate time endorse the amendment, adding that President Buhari shares the same vision with NULGE.
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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.
