Business
EKEDC Gets USAID Support To Boost Distribution
Eko Electricity Distribution Company (EKEDC) has received a Bucket Truck from United States Agency for International Development (USAID) Power Africa to boost power distribution.
The Tide source reports that Bucket Truck is used to lift materials and supplies to workers to correct faults from electric poles instead of ladder.
While receiving the equipment, Managing Director and Chief Executive Officer, EKEDC, Mr Adeoye Fadeyibi said it would enable the company’s technical staff to do their work without hitches.
“The bucket truck will ensure that we are able to do things in a better way. We will be able to perform our functions very well and get to our customers faster.
“USAID Power Africa and EKEDC have shown how things need to be done in our industry and in Nigeria at large.
“We are here today celebrating another milestone achieved by EKEDC with the partnership we have with Power Africa,” he said.
The Managing Director said the board and the management of the company were grateful to USAID Power Africa for donating the Bucket Truck to the company.
Delivering the equipment, USAID representative,Mr Gela Kereselidze, said the Bucket Truck was the second batch of equipment donated to EKEDC to enhance its performance.
Kereselidze said the truck would assist the company in terms of better response to faults reported by electricity consumers, thereby reducing technical and commercial losses.
Our source reports that on February. 7, EKEDC received the first set of technical equipment aimed at boosting its logistics and technical foundation from Power Africa.
The Chairman of EKEDC, Mr Charles Momoh, while receiving the equipment at the headquarters of EKEDC in Marina, Lagos, expressed satisfaction with the positive outcome of the partnership between the two bodies.
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.
