Business
NIOB Sympathizes With RSG Over Destructions
Following the destruction of some buildings in Rivers State last Monday and Tuesday morning,the Nigerian Institute of Building (NIOB) has sympathised with the state government over the economic losses.
The state Chairman of NIOB, Akinola Bammeke, who stated this on Wednesday shortly after taking valuations of some of the affected buildings in Port Harcourt and Obio/Akpor Local Government Areas, said the speed in which the government moved to town to physically see the destruction and to take stock was encouraging.
Bammeke called on the state government to establish a Building Control Agency to be manned by builders and other professionals in the building environment, adding that some of the affected buildings were not built to specifications.
The NIOB chairman regretted that there are some lapses in the current state of management of building works in the state, explaining that the roof of Elechi Amadi Polytechnic was blown off but in the same locality, there are buildings that were unscathed.
According to him,” buildings are designed to resist wind forces, we doubt if these buildings meet specifications”.
” Section 8.8.12.1 of the National Building Code of the Federal Republic of Nigeria states that; ‘all exposed structures or structural components, cladding and roof coverings shall be designed to resist the pressures due to wind in any direction as provided herein’. While section13.12 states that,’all building work shall be executed,installed and completed in a skillful and acceptable manner so as to secure the results intended by this code”, he said.
Bammeke said section 13.12.4 specifically states that the management of the execution of the building works including the supervision of artisans and tradesmen shall be carried out by a registered builder, but regretted that there is no Building Control in the state currently as practiced in other states like Lagos, Abuja and Ogun States.
He urged the government to look into the issue for lasting solution,stressing that what is currently practiced in Rivers State is Development Control and not Building Control.
According to him,” the current law is inadequate. Government should investigate the issue, adding that the Institute is ready to proffer solutions to the problems.
“These buildings especially the ones in the Polytechnic were approved by government. Obviously, there is a gap in design and actual construction. That is where the problem lies”.
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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