Business
Ministry Officials Seal 26 Fuel Pumps In Sokoto
Officials of Department of Weights and Measures in the Federal Ministry of Industry, Trade and Investment yesterday sealed 26 fuel pumps under-dispensing petrol in Sokoto and its environs.
The officials, led by an Assistant Director, Mr Ibrahim Isah, inspected 15 filling stations during the inspection, monitored sales and sealed pumps discovered to have anomalies.
In some stations, the dealers sold a litre of petrol at between N146 and N147 instead of N143 per litre that they displayed to customers.
Isah said the exercise was routine, noting that the proprietors of each station which pump was Sealed had been invited for a meeting at the office of the department in Sokoto.
Isah said the stations sold petrol above the regulated price and higher than the concessional margins, adding that the sealing of the pumps was temporarily for 24 hours.
He explained that during the meeting with proprietors, issues that led to the anomalies would be addressed.
Isah said the proprietors of the stations would write an undertaking before the pumps would be unsealed.
He called on customers to always report suspected anomalies on sales at filling stations to the department’s offices in the 36 states as the department had a duty to ensure that customers were not cheated.
Some filling station attendants, who pleaded anonymity, said most of faults detected were not deliberate as some fuel pumps were old and needed maintenance.
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.
