Business
Electricity Consumers Want Laws On Metering
Stakeholders have advised the National Assembly toenact laws on effective metering system to save electricity consumers from continuous exploitation through arbitrary billing.
They made the observation on Wednesday in Lagos at the ongoing public hearing by the House of Representatives Ad-hoc Committee on customers’ complaints for electricity consumers in South-West Zone.
Amos Awoniyi, a customer from Lekki area of Lagos, urged the House Committee to enact laws that would enforce effective metering system among distribution companies to reduce estimated billing.
He urged other distribution companies to adopt EKEDC metering model to address the challenges of estimated billing being faced by electricity consumers.
“Electricity customers are entitled to effective metering system and accurate billings but most Discos would not do that because they made more money from estimated billings.
“The Nigerian Electricity Regulation Commission (NERC) should start sanctioning Discos on arbitrary billing and shortchanging of customers through estimated billing,’’ he said.
According to Mrs Grace Adeoye, from Victoria Island, millions of households are still groaning under the weight of ‘crazy’ bills and poor power supply, four over years after the power sector was privatised.
“Many give consumers outrageous bills without recourse to the meters. Whether the meters are functional or not, they don’t want to know.
“NERC is supposed to put its feet down and stop this estimated billing. Once it is stopped, the power firms will be forced to supply meters to everybody when they start losing revenues, “she said.
Another consumer, Alhaji Tajudeen Thompson, urged EKEDC to replace obsolete meters within its network, adding that virtually all meters installed in high density areas over 50 years ago were not functional.
In his remark, Mr Israel Famurewa, Chairman of the House Committee on Electricity Customer’s Complaints, condemned arbitrary billing by distribution companies in Nigeria.
Famurewa said that the committee had received a lot of complaints and petitions on estimated billings, crazy bills and lack of meter from electricity consumers within the South-West Zone.
“It has gotten to a stage where if the House did not do anything about it, there may be a serious breakdown of law and order where people will take laws into their hands.
“The House in its wisdom constituted this committee to interface with the consumers, the Discos and the regulatory bodies. We are to find a lasting solution to the problem of the system.
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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