Business
Ministry Of Labour Gets New Department
The Minister of Labour and Productivity, Chief Emeka Wogu, said approval had been granted for the take-off of a new Department of Productivity Measurement in the ministry.
This was contained in a statement issued by Mr Samuel Olowookere, an Assistant Director (Press) and made available to newsmen in Abuja last Thursday.
It quoted Alhaji Buba Gamawa, the Director, Human Resources Management, as saying in a memo signed on behalf of the minister, that the new department had been approved by Mr Steve Orosanye, the Head of the Civil Service of the Federation.
Wogu said: “Approval has been granted for the take off of the new Department of Productivity Measurement, bringing the number of professional departments in the ministry to four.
“The recent review in the salary of civil servants is anchored on the understanding that there will be a corresponding increase in productivity to justify the increase.
“The new department will be actively involved in policy issues relating to productivity.”
It said the activities of the new department would not be limited to policy formulation and monitoring alone, but would among other things, advise the government on salary and wage increase based on productivity.
Dr Clement Illoh would serve as the Acting Head of the department, the statement said.
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.
Business
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