Business
Stakeholder Urges Passage Of ‘Fly Nigeria Act’
The Federal Government
has been urged to speed up the passage of “Fly Nigeria Act” (FNA) which seeks to mandate government officials and contractors to make domestic airlines their first choice for official trips, except where they do not fly to, or have codeshare agreement to do same.
The call was made in Port Harcourt by aviation stakeholder, Chief Mike Egwuonu, the Managing Director/CEO of Inter-Connect (Nig) Limited in an interview with The Tide recently.
According to him, the recent ultimatum given to British Airways, Virgin Atlantic Airways and all international airlines operating in the country to dismantle the regional fare imbalance between what Nigerian passengers pay for international flights and their counterparts in the West African sub-region, or face a ban from operating in Nigeria, is a step in the right direction.
He noted that the fly Nigeria Bill will ensure that all the federal employees and their dependants, consultants, contractors, grantees, and others performing government financed foreign air travel by Nigerian air carriers. “A lot of the passengers who fly these international airlines fall into this category. An immediate passage of the Fly Nigeria Bill will utilise market forces to trap and keep these resource flight within Nigerian airlines without necessarily hampering Nigeria’s international aviation obligations in the long run,” he said.
He assured that the FNA, when it becomes operational, will mandate government officials including contractors handling government projects to fly Nigerian airlines overseas except where the local airlines or their codeshare partners do not fly to.
The aim he said is to strengthen domestic airlines, make them competitive and help the country retain part of the capital flight which averages N200 billion unmorally.
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.
