Business
Disunited Labour, Bane Of Minimum Wage Review – NLC
The President, Nigeria Labour Congress (NLC), Mr Ayuba Wabba, has blamed the delay in securing an upward review of the national minimum wage on the disunity in the organised labour.
Wabba spoke to newsmen in Lagos last Tuesday on the prospects of getting a review of the existing N18,000 minimum wage for workers.
The present N18,000 national minimum wage was signed into law by former President Goodluck Jonathan in March 2011.
“It is time to review the N18,000 minimum wage. If we had been united, this issue would have been resolved,’’ the NLC president said.
He said that since 2015, when the organised labour submitted a formal demand for the review of the minimum wage, no technical committee had been set up to look into the issue.
According to Wabba, the committee is to start the process of negotiations, where the concerned stakeholders will gather at a round table to drive the process.
“For the minimum wage to be reviewed, it has to be tripartite. The employers’ organisation will be present, government’s representatives and the organised labour,’’ he said.
The NLC president stressed that the current minimum wage could no longer sustain workers as the five-year cycle for review of workers income was due and the value of money had also depreciated.
He assured that there was hope of getting an increment in the minimum wage but added that workers must be ready to fight for their right.
“Everything that we have gotten as workers over the decades is through collective struggle. Government did not offer it on a platter of gold.
“These are the issues that have caused delay in resuming negotiation on review of new minimum wage for workers,’’ he said.
Wabba said that the Federal Government and labour could look at ways of implementing a new strategy for the new minimum wage with the economic recession not hindering the discussions.
“Labour is committed to driving the process of an increment in minimum wage for workers and we assure you that we will defend your interest.
“On the issue of recession, the NLC will soon arrive with an alternative to enable the government solve its economic problem,’’ the NLC president said.
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.
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