Business
Experts Want Implementation Of National Building Code
Bothered by the delay in the implementation of the National Building Code (NBC), some operators in the built up environment have called on the federal authorities to expedite action on the implementation of the reviewed code.
The operators made the call yesterday in an interview with newsmen in Lagos. Former President of the Nigerian Institute of Building (NIOB), Mr Chucks Omeife, said that the implementation of the NBC was necessary in order to restore sanity to construction activities in the country.
It will be recalled that the Minister of Power, Works and Housing, Babatunde Fashola, in June, 2018, announced the review of the code by the Federal Executive Council.
According to him, the reviewed code will not make any remarkable impact until an enabling law is enacted to back it up.
He said the law was necessary to facilitate the enforcement of the code for its effects to be felt.
Fashola added that the Federal Government should propose an Executive Bill to the National Assembly for an enabling law/legislation that would enforce the various provisions of the NBC.
Omeife said that passage of the bill would guarantee an orderly and effective building environment.
“Without an enabling law to back the code, the NBC is like a toothless bulldog that will have no effect whatsoever.
“Buildings still collapse in the country because there is no law that stipulates the punishments applicable to professionals/individuals who executed the construction of collapsed buildings.
“Meanwhile, such sanctions and stipulations are stipulated in the National building Code.
“So, until the code is signed into law, such that people will become liable for the offences they commit, the issue of misconduct of professionals which results in building collapse and other menaces facing the industry may not stop,’’ Omeife said.
He said that the industry had been facing huge challenges and a crisis of confidence in recent times, due to the involvement of some professionals in some developments that had collapsed.
The NIOB ex-boss noted that the ineffectiveness of the NBC was the major cause of the challenges in the industry, stressing that enforcement of the code would put an end to the menaces in the building construction industry.
Contributing, Secretary, Marketing and Corporate Affairs, Nigerian Institute of Quantity Surveyor (NIQS), , Mr Jide Oke, said the Federal Government should make the document more effective at all levels of government, to tackle the issue of importation of building materials.
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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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