Business
Miners Urge FG To Check Smuggling
Chairman, Miners Association of Nigeria, Kaduna State chapter, Alhaji Lawal Mayere has called on the Federal Government to urgently address “incessant smuggling of solid minerals” out of the country.
Mayere made the call yesterday in Abuja.
He said that the rate at which solid minerals were being smuggled out of the country was alarming and this could affect the contribution of the sector to the country’s Gross Domestic Products (GDP).
According to him, some foreigners engage artisanal miners by giving them money as gratification to encourage them to mine minerals, especially gold, for them.
Mayere said that: “Sometimes Senegalese and other foreigners encourage our artisanal miners to mine for them and also buy the minerals they mined.
“This is what is in vogue. They lure them with money on the condition that the minerals would be sold to them and there would be no refund of money even when no mineral was found.
“This is the game that foreigners are playing with our artisanal miners now. This is what we see on daily basis; they get our minerals at very cheap prices.
“Government can give artisanal miners money to mine minerals and buy them at good prices to encourage them.
“This will safeguard our minerals and the sector can also contribute to the economy,’’ Mayere said.
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.
