Business
FG Threatens To Revoke Sold Ikoyi Liaison Quarters
The Minister of Interior, Mr. Olubunmi Tunji-Ojo, has expressed the Ministry’s determination to recover its liaison residential quarters allegedly sold by an undisclosed Director of the Ministry.
He gave the hint in Lagos on Monday while on tour of some facilities in the Federal Marriage Registry, Immigration Service, and Ikoyi Correctional Centre, all in Lagos, to be abreast with their operations.
The Minister said the sales of the properties will be revoked, not minding who is involved, because “we can not mortgage our future”.
According to him, “the government of President Ahmed Bola Tinubu’s Renewed Hope agenda would not let go of those involved in the illegally acquired government properties”.
In the same vein, while addressing journalists after the facilities tour at the correctional center, Ikoyi, he stated that “President Tinubu’s Renewed Hope agenda will continue to tackle and address all inherited jumble of problems of the past administration”.
He further explained that Mr. President as a patriot is braced up to address all inherited problems since assumption of office, adding that as a listener, he has showed concern about the inherited problems and never rested on his oars.
On Correctional Centre, Tunji-Ojo said, “I have always said, that urbanisation is real. So far, we have looked at some of these correctional centres across the country and we have been very keen on repositioning them.
“We want a real correctional centre in actual deed, not a place that will be psychologically damaging. We want offenders to come to correctional centres and be reformed.
“We think that the change of name from Prisons, which is a place of incarceration, to correction, simply means a place of transformation, and should take effect really.
“We want a change of ideology, a change in orientation, and change in our approach of methodology of formation so that people will see this place as a place of hope, and leave with the renewed hope”.
He further assured that the Ikoyi Correctional Centre will soon be relocated to a designated area properly deemed fit by the Federal Government.
Industry watchers commended the minister for making time to assess some of the dilapidated buildings and offices warehousing his officials.
A senior officer of Immigration Service who did not want his name in print, said the Minister’s visit was not a witch hunting exercise but an assessment of performance of the ministries under his watch to enable him assess the problems inherited, adding that the Minister had an ample opportunity of critically observing activities on facilities visited and even said officialdom would not permit him to see.
The Minister was accompanied on the tours by the Director, Citizenship and Business, Mr. John Adinoron; Permanent Secretary, Ministry of Interior, Dr. Aishatu Gogo Naayako; and the Comptroller-General of Immigration Service, amongst others.
Nkemenyie Mcdonminic, Lagos
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.
