Business
Labour Minister Denies Involvement In Union’s Crisis
The Minister of Labour and Employment, Dr Chris Ngige last Thursday said the ministry had nothing to do with the crisis within the Nigeria Union of Pensioners (NUP), electricity sector.
Ngige said that the ministry would never interfere in any union’s affairs only to settle issues when called upon.
The minister was reacting to allegation by the NUP, Electricity sector, that the minister was pressurising the Pension Transitional Arrangement Directorate (PTAD), to stop payment of Check-off dues to pension headquarters.
Chairman Caretaker committee of the union Mr Abel Eikhor, had on Thursday at a news briefing in Abuja accused the minister of undermining the law by giving directives to various agencies to reverse the irreversible.
Eikho said the NUP National Headquarters was recognised as the Registered Trade Union to which the sector was an affiliate and recognised to receive remittances of check off dues.
He alleged that, the Formal Chairman of the sector, Mr Temple Ubani, had written to the minister of labour requesting that, PTAD be called to order and reverse remittances of check off dues to his account.
“ Unfortunately the minister is undermining the law by giving directives to various agencies to reverse the irreversible.
“The law is sacrosanct in this regard, PTAD is not under the ministry of labour so the minister should be guided,” he said.
He noted that, the formal chairman of the electricity sector had pulled out of the union and formed his own association known as Electricity Sector Retirees Deputies Welfare Association (ESREWA).
According to Ngige, the ministry has nothing to do with Mr Ubani or the association, only when it is registered.
“ I have never talked to PTAD on this issue, I will only write PTAD if there is an issue for clarification, the minister said.
Ngige noted that the NUP was the only registered Union for pensioners and it has under it different sectors. According to him, other sub unit within the pension union had applied for recognition and registration, claiming the NUP had grown big that it could no longer take care of them.
He said the law does not stop anybody from forming sub group, likewise the law permit the minister to do a regrouping of union when the ministry feels their membership cannot be taken care off.
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.
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