Business
Housing Show Okays FG’s Low-Income Housing
The Federal Government
has been commended for its plans on affordable housing in the country.
The promoters of the Abuja Housing Show gave the commendation to the Minister of Power, Works and Housing, Mr Babatunde Fashola in a statement issued on Monday, saying that the annual show is poised to supporting the ministry meet its housing target.
In the statement, the Chief Executive Officer (CEO), Fesadeb Communications, producer of Housing Programme AIT and Housing Time on Raypower FM, Mr Festus Adebayo, maintained that contrary to claims that the minister was not favourably disposed to affordable housing the minister was indeed working to make housing easy for lower cadre workers.
Adebayo stated that the presentation made to the minister by members of the House Committee on Housing in the National Assembly was proof that the ministry was working hard in its affordable housing scheme, adding that during the interactive session of the show, Fashola unveiled plans by the FG on low cost housing in Nigeria.
The CEO of the communication outfit promises that the minister’s presentation would be deliberated upon in the forthcoming 10th Abuja Housing Show, scheduled to hold from July 18, to July 20, 2016.
He called for investments in affordable housing, particularly “foreign investors to come with their resources to invest in affordable housing” adding, “government has good plans for foreign investors”.
He advised State Commissioners of Lands and Urban Development to use the forthcoming Abuja Housing show to interact with professionals in all areas of housing/construction industry to get new ideas.
The show, with the theme, “Expanding Access to Affordable Housing in Africa, will be declared open by Nigeria’s Vice President, Prof Yemi Osinbajo with speakers drawn from Spain, USA, South Africa, Gambia and Nigeria.
Business
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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.
