Business
Expert Tasks FG On Rail Transport System
An expert in transport and haulage consultancy, Chief Onwumere Uzonna says the inability of the Federal Government to revamp the rail transport system, is responsible for the bad state of road network across the country.
Uzonna made the assertion during an interview with our correspondent in Port Harcourt.
Chief Uzonna posited that efforts made by successive administrations towards road rehabilitation failed due to the moribund nature of the rail transport system.
He recalled that when rail transport was functioning effectively, the haulage of goods and services were made through the rails, adding that from Port Harcourt port, train coaches were positioned and loaded with various bulk cargoes that were transported to different parts of the country thereby giving way for free flow of traffic along the major high ways.
The transport expert regretted that the reverse is the case today as heavy duty trucks with more than 30 metric tones capacity ply the roads, causing major damages over, time.
He observed that roads have a longer life span today because in the past major bulk cargoes, like cement, petroleum, products, rice, salt, gypsium sand, iron ore, coal, groundnut, beans, livestocks, yam, tomatoes, pepper among others were transported through the railway lines.
He called on the federal government to rehabilitate the railway system as well as the dilapidated roads, to extend the life span of roads in the country.
He maintained that rail transport system remains the cheapest and easiest mode of transportation with less accident and efficient service delivery.
By: Kinika Mpi.
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.
