Business
CBN Moves To Tackle Youth Unemployment
The Central Bank of Nigeria(CBN) says it is partnering Chief Emmanuel Iwuanyanwu Foundation to tackle the lingering unemployment in Nigeria and Imo State in particular.
The CBN Programme Director, Dr Osita Aniemeka, said this yesterday in Owerri when his team visited Chief Emmanuel Iwuanayanwu in his office.
The two partners signed a Memorandium of Understanding on the “New Partnership for Entrepreneurship and Employment Creation (N-PEEC)” programmme.
Aniemeka said the programme would seek to provide a robust new partnership for critical job creation that could drive Nigeria’s development indices.
He said the project would also seek to make all Nigerians responsible for job creation, adding that through the programme, unemployed Nigerians would be assisted to start small and medium scale enterprises.
Aniemeka said this would be achieved after adequate Entrepreneurship Development Programme (EDP) and Vocational Training by the Iwuanyanwu Foundation- a non-governmental organisation with CBN –South East Entrepreneurship Development Centre (CBN-SEEDC).
“Small scale manufacturing/SMEs are very critical in our national development considering the current impact of excessive importation on our economy.
“Unemployed youths and students are also going to be trained on industry related skills spanning through the oil and gas, power sector, the agro-allied and the manufacturing, aside others,” he said.
Aniemeka said a partnership Investment Fund would be generated from individuals, financial institutions, foreign donor agencies, politicians, social organization, captains of industry, philanthropists and foundations to make the scheme workable.
Our correspondent reports that the agreement was signed by the Coordinator of Iwuanyanwu Foundation, Mr Chinedu Nsofor and Dr Aniemeka, Programme Director (CBN-SEEDC) on behalf of CBN.
Chief Iwuanyanwu, the Founder of the foundation, decried the upsurge in youth unemployment, poverty and destitution in Africa.
He said that the worrisome situation had now compelled some Nigerians to migrate to other countries desperately in search of greener pastures with disastrous consequences.
Iwuanyanwu recalled the crucial role of agriculture as the mainstay of the nation’s economy in the First Republic and expressed regret that it was abandoned by all following the discovery of oil.
“Agriculture was honourable and the main stay of the Nigerian economy.
“There were farm settlements and people lived well with it. Other Nigerians engaged in various trades and there was dignity in labour,” he said.
The politician said that all hands must be on deck to arrest unemployment through effective and judicious utilization of the nation’s natural resources.
“Seeing Nigerians languish in hunger is painful more so when the country is blessed with enough human and natural resources.
“It is time for Nigerians to rise up to tackle the challenge of unemployment.
“CBN and Iwuanyanwu Foundation is embarking on a programme that will change the scepter of life of the people and make them understand that there is dignity in labour.
“Our foundation has a programme to make the people realise that they can be rich without being professors or permanent secretaries,” he said.
He enumerated some of the achievements of the foundation to include offering scholarships to thousands of indigent students in post primary schools and universities.
Iwuanyanwu said that by the year 2008, the foundation had offered 10,000 scholarship to university students aside grants and rural infrastructure development.
He said that the foundation also gave cash worth about N6 million to some retired Anglican Church bishops, retired civil servants, old peoples’ homes and motherless babies’ homes.
Iwuanyanwu commended the CBN on the partnership and urged all Nigerians to work with the government to end poverty in the country.(NAN)
CEO/TÁ
Edited by Tajudeen Atitebi
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.
