Business
Piracy Rise In GOG Worries IMB
The International Maritime Bureau (IMB) has expressed worry over rise in reported incidents of piracy, kidnapping and all forms of criminality in the Gulf of Guinea (GOG).
The increase, as stated in the Bereau’s report, showed that there was 21 incidents recorded in the first nine months of 2023, compared to 14 incidents during the same period in 2022.
Among these incidents, 17 were classified as armed robberies and four as piracy.
IMB said the safety of crew members is a mounting concern, as 54 were taken hostage, 14 were kidnapped, and two others were injured.
The Director, IMB, Michael Howlett, expressed concern over the rise in reported incidents in the Gulf of Guinea.
“The Gulf of Guinea stands as a region of concern with a rise in reported incidents, as opposed to the downward trend we have seen in the past two years.
”The Bureau sees regional ownership as critical to safeguard shipping and trade and to address these crimes”, Howlett said.
The Singapore Straits also raised concerns, with 33 reported incidents in the first nine months of 2023, compared to 31 incidents during the same period last year.
“Out of these incidents, 31 vessels were boarded, five crew members were taken hostage, and two were threatened.
“The majority of incidents were reported in July, with ship stores or properties being the primary target for theft”, the report stated.
The Navigational challenges of the Singapore Straits further compound the risks posed by these incidents, potentially affecting safe navigation in these congested waters.
The IMB’s report also highlighted an increase in the number of incidents in the Indonesian archipelagic region, with 12 incidents reported during the first nine months of 2023, compared to 10 incidents during the same period in 2020 and seven incidents in 2021. Knives were sighted in five out of the 12 reported incidents.
Furthermore, reports from Callao Anchorage in Peru increased to 13 incidents from eight during the same period in 2022.
These incidents included nine crew members being taken hostage, one member being threatened, and another member being assaulted.
According to the report, there were 99 incidents of piracy and armed robbery against ships in the first nine months of 2023, marking an increase from 90 incidents during the same period in 2022.
Among the reported incidents, 85 vessels were boarded, nine had attempted attacks, three were hijacked, and two were fired upon.
The perpetrators successfully boarded 89% of the targeted vessels, with most incidents occurring at night.
While the reported violence towards crew members is relatively low compared to the past three decades, there remains a real risk to crew safety.
In the first nine months of 2023, 69 crew members were taken hostage, 14 were kidnapped, eight were threatened, three were injured, and one was assaulted.
IMB emphasized the importance of early reporting of incidents, even low-level opportunistic ones, to protect seafarers and ensure the safety of regional and international shipping and trade.
The organization commended local authorities for their efforts in investigating nearly all reported incidents.
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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