City Crime
eNaira, BVN, TSA, NIN Should Give Investors Comfort, Buhari Insists
President Muhammadu Buhari, yesterday, in Riyadh, Saudi Arabia, said initiatives to drive the digital economy and fight corruption in the country should give investors “a lot of comforts”.
Among the initiatives mentioned by the president are e-Naira, Treasury Single Account (TSA), Bank Verification Number (BVN), and National Identification Number (NIN).
Speaking at the fifth Edition of Future Investment Initiative Summit holding in Riyadh, Saudi Arabia, Buhari said his regime would keep encouraging public and private initiatives that increase investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change, and food security.
A statement from the Presidency quoted the Nigerian leader as urging more interest in infrastructure such as healthcare and education, which “present enormous opportunities for investors in a country our size.
“Digital economy in Nigeria has many potential for investment, as it has remained the fastest growing sector in both 2020 and 2021. Nigeria has many opportunities for investment in broadband, ICT hardware, emerging technology and software engineering.
“We have recently approved the national policy on Fifth Generation (5G) network. Our aim is to attract investors in healthcare, smart cities, smart agriculture among others. The benefit of real time communication will support all other sectors of the economy,” he noted.
To further improve and reposition the economy to attract investors, the president said, “e-Naira, the electronic version of our national currency, which puts us on track to become the first African country to introduce a Central Bank Digital Currency” was launched on October 25, 2021.
“We believe this and many other reforms will help us increase the number of people participating in the banking sector, make for a more efficient financial sector and help us tackle illicit flow of funds.
“To further strengthen our anti-corruption drive, increase accountability and transparency, we have centralized government funds through a Treasury Single Account, and ensuring that all Nigerians with a bank account use a unique Bank Verification Number (BVN).
“These initiatives, coupled with our nationwide National Identification Number (NIN) exercise, reinforce our efforts to tackle corruption and fraud. We believe that this should give investors a lot of comforts.”
Buhari attributed growing social unrest to inequalities and unfair policies that exclude the majority from opportunities for participation, admonishing world leaders and global investors to prioritise inclusive and humane policies.
He said, “By so doing, it will go a long way in reenergizing the global economy in a post-COVID-19 era.
“Nigeria is Africa’s largest economy and most populous nation. Our economic reforms which focus on ‘humane’ investments are ideal for investors looking to have profitable returns while positively impacting the citizenry.”
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Renaissance Energy Pledges Stronger Partnership With RIVCHPP
The company’s General Manager, Health, Dr. Akinwumi Fajola, said the proposed partnership would involve the constitution of a joint team comprising representatives of Renaissance and RIVCHPP to deliberate on and develop modalities for deeper collaboration.
Fajola, who spoke during the visit, said the engagement would help strengthen the agency’s operations and advance the attainment of Universal Health Coverage in Rivers State.
He noted that the seeming bottlenecks often associated with government agencies had made some organisations and individuals sceptical about engaging with them.
According to him, the leadership style of the RIVCHPP Executive Secretary had demonstrated positive changes capable of attracting public and private-sector partners.
He stated that Renaissance Energy Limited would further strengthen its engagement with RIVCHPP, particularly in promoting health insurance within its operational areas.
Earlier, Agala described RIVCHPP as a legacy project of the State Governor, Siminalayi Fubara, established to ensure that Rivers residents have access to quality and affordable healthcare in line with the administration’s #Health4AllRivers vision.
She said since the agency became operational in January 2024, it had sustained awareness campaigns across the formal and informal sectors, resulting in steady growth in enrolment.
Agala disclosed that RIVCHPP had enrolled more than 160,000 residents across the state’s 23 Local Government Areas, giving them access to healthcare services.
She also said although Rivers was among the last states in the country to operationalise a health insurance agency, it had risen to 13th position in Universal Health Coverage and was recognised as the most improved state at the Federal Ministry of Health’s 2025 joint annual review meeting.
The Executive Secretary said the agency was implementing comprehensive healthcare plans covering all population groups, including vulnerable residents, to protect households from health poverty and catastrophic health expenditure.
She commended Renaissance Energy Limited for promoting health insurance in its operational areas and congratulated Fajola on his recent promotion.
The visit featured the exchange of promotional materials and souvenirs between the two organisations.
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