Business
Union Gives Firms 21-Day Ultimatum
The United Labour Congress of Nigeria (ULC) has issued a 21-day ultimatum to the Daewoo Nigeria Limited and Indorama Eleme Petroleum Company Limited to urgently address the issues of unpaid severance allowances for members of National Association of Plant Operators (NAPO).
Over 200 members of NAPO, an affiliate industrial union of UCL were said to have their contract illegally terminated without any compensation after they were hired by Daewoo Nigeria Limited to work in No4 Indorama fertiliser project in Eleme over two years without any compensation. Piqued by this, the national leadership of plant operation, led by Comrade Bestowe Harold, petitioned to the UCL and the matter formed part of deliberations at the just concluded central working committee held at Yaba, Lagos State.
The letter which was dated 28th August, 2017, signed by the General Secretary, United Labour Congress of Nigeria (UCL), Comrade Didi Adodo and made available to newsmen in Port Harcourt read thus: We write in response to a letter written to us by one to our affiliates, National Association of Plant Operators (NAPO), requesting our intervention in a matter that has become unfortunately intractable between yourself and the union.
Recall that the union (NAPO) questioned your handling of the disengagement of some of their members in your employ without recourse to the dictates of the extant laws governing industrial relations in Nigeria.”
“Do remember that in the course of the union pursuing its objectives of protecting the rights and interests of their members, rights which you violated with impurity, you organised the military and the police to mete out violence on the union and its leadership with a lot of them receiving live threatening injuries which led to hospitalisation.”
“According to medical reports at our disposal some of these officers are in dare need of further urgent medical attention to save them from criminal death or permanent disability.” We therefore want to inform you that the UCL rising from its Central Working Committee (CWC) meeting held in Lagos and after carefully analysing and assessing these painful issues have taken the decision to give you a 21-day ultimatum in which you are expected to resolve all the issues raised namely the illegal termination of over 200 workers and the subsequent complications. While we anticipate your quick response and compliance to this matter, remain assured of our determination to work with you towards ensuring a more responsible and lawful relationship with your workers.”
When contacted on phone to react on the development, Daewoo Nigeria Limited’s Human Resources Manager/Industrial Relations, Mr Raymond Onamefor did not respond to calls put across to him by our correspondent.
Bianca Oriaku
Business
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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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