Business
Minister, Builders Meet Over Building Collapse
The Federal Government says it will collaborate with building professionals to uphold standards in the industry in a bid to reduce the spate of building collapse in the country.
The Minister of Interior, Rauf Aregbesola, during a meeting with the leaders of the Nigerian Institute of Building in his office in Abuja was quoted as saying the safety of all Nigerians remained important to the federal government.
“We are not leaving any stone unturned to achieve this. As a ministry that is saddled with the responsibility of ensuring internal security in Nigeria, our goal is to partner relevant professional bodies and organisations to achieve our mandate,” he said.
The President of the NIOB, Mr Kunle Awobodu said the institute had earmarked March 13, the day a five- storey building collapsed at 63, Massey Street on the Lagos Island, killing over 20 people, who were mostly school children, as Builders’ Day.
He explained that the sad and painful incident caused by substandard building construction had become common in the country.
He noted that it should serve as a reminder to stakeholders in the building industry on the fatal implications of non-compliance with appropriate building construction process.
According to Awobodu, the Builders’ Day, which would be an annual event would commence this year and would be a nation-wide sensitisation campaign against substandard building construction.
He said the NIOB needed the support of the Ministry of Interior to realise the objective.
Aregbesola said his ministry would collaborate with the NIOB to train artisans in building and ensure standardisation of all materials being used in building construction so as to avert the frequent incident of building collapse across the country, which he noted had claimed the lives of many Nigerians.
The minister enjoined the NIOB to help provide building skills at the correctional centres where inmates could be engaged in more productive activities, as well as generating income for themselves and the country.
“Among the causes of massive unemployment and insecurity in Nigeria is the failure of people to recognise key primary service providers such as the building artisans, so we are addressing this trend as part of our efforts at removing all threats to the security of lives and property of the citizenry,” he added.
Aregbesola also called for the training of artisans in various building and construction fields towards national development.
He also said the problem of incursion of foreign building personnel would be addressed by ensuring that the building expatriates were duly registered with the NIOB and licensed by the appropriate regulatory body, the Council of Registered Builders of Nigeria.
The minister said considering the pragmatic approach to solving building collapse, the Lagos State Government should be commended on its new building regulations that had assigned professional builders the responsibility of managing construction work at all building sites in the state.
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.
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