Business
‘Nigeria On A Self-Rediscovery, Redemption Mission’
The Director-General Nigeria Mining Cadastre Office (MCO), Mr Obadiah Nkom says the country is in historic times as it is on a mission of self-rediscovery and redemption.
He said this during his investiture as president of the Nigeria Mining and Geosciences Society (NMGS) weekend in Abuja.
The Tide news reports that he was elected as the society’s 30th president in March, at its 55th Annal International Conference in Enugu.
Nkom recalled that the country prior to the discovery of oil and gas in commercial quantity was known for its tin, columbite, and coal.
“Mining was one of main-stay of the country’s economy, leading to the establishment and development of cities such as Jos and Enugu where generations were raised.
“Mines and mining camps were homes to people from diverse corners of this country, guarantying the earning of decent living wages,” he said.
This, the NMGS President said promoted cohesive family lives and above all cemented the bond among the people.
Nkom said such days were only now remembered with nostalgia, especially so, because many of the mining entities had long been consigned to the dustbin of history.
He, however, said that efforts were being made by some Nigerians to get the country back to those “winning ways again”, a reason he said the country was on a mission of self-rediscovery and redemption.
The director-general assured Nigerians that as the President Muhammadu Buhari-led administration enters the next level of development, the NMGS would continue to work closely and harmoniously with government and its agencies to achieve its objectives.
He noted that jobs in the oil and gas sector was becoming endangered as the world was aggressively looking for alternatives to fossil fuels.
Nkom advised that the Nigerian oil and gas sector should therefore, as a matter of fact begin to also pursue the maximisation of the potential inherent in the sector.
“Nigeria should shift from exporting unrefined crude to becoming a nation of petrol chemicals, we should pursue the conversion of this black gold into finished products and raw material feedstocks for industries.
According to him, this will hasten the country’s industrialisation process and create more jobs for teaming unemployed Nigerians.
He said it was regrettable that we export jobs that were badly needed by the teeming youth in the country.
Nkom explained that when we export crude oil, the country is denied the full benefits of our God given potential.
He, however, said that political will and a determined populace desirous of forgoing current short-time pleasure and comfort for a secured and sustainable future was required to achieve the full potential of the country’s solid mineral deposits.
According to him, in order to achieve this, there is the need for the Federal Government to formulate a licensing policy to encourage oil companies to becoming petrol-chemical producers rather than extractors and exporters of crude.
The ceremony was also attended by some traditional rulers from across the country, among whom was Malam Tagwai Sambo, the Chief of Marwa, in Kauro Local Government Area of Kaduna State.
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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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