Business
Hqtrs Relocation: Expert Appeals To Oil Firms
The Managing Director of the Onne Oil and Gas Free Zone, Mr. Umanna Okon Umanna, says plans are on to convince oil companies operating in the zone not to relocate to Lagos over security concerns.
The MD, stated this recently when the Caretaker Committee Chairman (CTC) of Eleme Local Government Area, Hon. Obari Lumatu Olloh paid him a familiarisation visit, Umanna said he was ready to partner the Rivers State Government with the local authorities amongst others, in dealing with security threats in order to maintain investors’ confidence in the area.
“From our interaction, we are working on initiatives to make sure we sustain the peace and provide an enabling environment for investors”, he said.
He explained that it was due to insecurity that investors in Warri, Delta State relocated to Lagos, adding that people are using Warri as an example of what could happen if security was not handled promptly.
Also speaking, the Eleme CTC boss, said the Council was working together with security agencies in order to deal with issue of security in the area.
He also said lack of employment opportunities and economic empowerment of youths of the oil free zone might be some of the reasons for insecurity and crime in the area.
“Onne plays host to many companies but the problem we have from our immediate Community is that they feel disenfranchised.
“They think what they get from the companies is not commensurate with what is on the ground”, he said.
According to the CTC boss, he has, over time, received complaints in the area of unemployment and the economic empowerment of the youths in the area.
“I feel it is necessary to mention this so that we find a way to put together a process to begin to train our youths so that they do not get involved in unwholesome practices and vices”, he said.
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.
