Business
NOSDRA Wants Oil Communities To Resist Illegal Bunkerers
The Zonal Director, Port Harcourt Office, National Oil Spills Detection and Response Agency (NOSDRA), Mr Cyrus Nkangwung has alarted members of oil bearing communities on the need to resist the entry of illegal oil bunkerers into their communities.
Nkangwung gave the warning in an interview with newsmen to enlighten the public on the functions of NOSDRA.
He raised the alarm that operators of illegal refineries were now moving into the communities and warned that there were dangers to the lives of the people of those communities if they were not resisted and asked to leave their communities.
“These boys have moved close to the communities, they are no more in the creeks, they are now in the communities, if you go to a place like Isakep, you see their refineries are planted there, so it calls for a collective effort and responsibility,” he lamented.
He noted that NOSDRA was responsible for the management of oil spills, saying when a spill occurs, “a joint investigation team is put together to determine the cause and volume of spill into the community, the cause is important because that would determine weather the community would have compensation or not.”
He observed that if a company operated within a community without any spills within a year, that community benefited from the profits of the oil company for that year, “and that stabilizes the community.”
Nkangwung regretted, however, that available records showed that, Rivers and Delta States ranked tops in cases of illegal crude oil refining in the Niger Delta.
According to him, “today illegal refining is predominately in Rivers and Delta states; in fact, some states like Bayelsa State, you may think you have them, but to a large extent, you see that there are very few cases.”
Nkangwung called for urgent establishment of modular refineries in the Niger Delta, saying the problems associated with oil theft in the region would only come to an end or be drastically reduced if modular refineries come in place.
Tonye Nria-Dappa
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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