Business
Int’l Market: Ebonyi Assures Traders Of Shop Ownership
The Ebonyi State Government has assured traders and other citizens who procured shops at the Margaret Umahi International Market, Abakaliki of permanent ownership of the shops.
Tide’s source reports that the multi-billion Naira market complex situated on the Trans-Saharan Enugu-Abakaliki-Cross River-Cameroon highway was constructed by the preceding administration but was not completed before leaving office.
The incumbent administration of Govoner David Umahi, condemned the standard of work at the complex and embarked on the renovation of some structures while reconstructing others.
Dr Kenneth Ugbala, Chairman of the State Executive Council (EXCO) Committee on the market, told newsmen during the allotting of shops that renovation and reconstruction had attained 80 per cent completion.
Ugbala, who is the Senior Special Assistant (SSA) on Internal Security to the governor, noted that the allotment had to commence to implement the government’s decision to relocate traders in major markets in Abakaliki to the place by October 1, 2018.
“We therefore, commend potential shop owners at the market for obeying the government’s directive to purchase the shops.
“They are assured that the shops will be allotted to them permanently on purchase as they have the luxury of making 50 per cent payment to complete the balance in two years.
“Payment will be on the ratio of 30: 20; they can first pay 30 per cent and 20 per cent later, all within the stipulated two years,” he said.
The committee chairman said that on making the 50 per cent payment, the allottees would be issued a temporary allocation paper and given the permanent one with the Certificate of Ownership (C of O) after the full payment.
“Allottees who complete their payment at once will be issued their permanent allocation papers and C of O as we are doing this to push the people towards their blessing,” he said.
He noted that the state EXCO liaised with the various market authorities and arrived at prices it felt were affordable in spite of complaints of high cost.
“Shops downstairs cost N3.2 million and upstairs, N3 million, shops at the bungalows: N2.5m, while single smaller shops cost N1.3 million.
“Traders at major markets in the town should hasten purchasing the shops because no allotment will be reserved for late allottees no matter their status in the society.
“Ebonyi citizens in particular, are advised to heed to the directive to prevent outsiders from procuring the shops because politicians and civil servants among others can procure shops to supplement their earnings.
“Facilities such as asphalted-roads, banks, standard toilets, fire-fighting services, police station, clinics, schools, including those for kindergartens and close-circuit cameras among others are provided inside the market,” he said.
Mr Peter Nwaogbaga, the governor’s Special Assistant on market development, noted that the debris found within the complex were from the old structures at the market.
“It will not take us one week to evacuate the debris and we have fully constructed and channelled drains around the market to prevent flooding,” he said.
Chief Daniel Okorie, a businessman, said that he had purchased five shops at the market: three shops for N3.2 million and two shops for N2.5 million.
“I made 50 per cent payment for them and will certainly purchase more because I am satisfied with what I saw inside the market.
Mrs Virginian Nwofe, a vegetable trader at the Abakpa main market, however, expressed doubt that traders could afford the exorbitant cost of the shops.
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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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