Business
COREN Uncovers Six Failed Dam Projects In Adamawa
The Council for the Regulation of Engineering in Nigeria (COREN) says it has uncovered six failed dam projects in Adamawa.
Alhaji Bukar Muhammed, COREN’s Engineering Regulation Monitoring Desk Officer in the Yola zone, said this on Sunday, while speaking with our correspondent in Yola.
COREN, a regulatory body, was set up to regulate the practice of engineering an all aspects and ramifications in Nigeria.
Muhammed said that the failed dam projects were discovered during some inspection tours conducted by some members of the Council.
“During our inspection visits to the construction sites of earth dams for irrigation and livestock in Madagali, Gombi and Jada Local Government Areas; we discovered that the construction works are not up to standard.
“In some sites we visited, we discovered that some sections of the dams, which were built last year, had collapsed, while some parts had been washed away by water,” he said.
Muhammed said that the earth dam projects were jointly executed by Adamawa State Government and a construction firm, “Sinalco Engineering”.
He said that an invitation letter, demanding appropriate professional explanations on the execution of the projects, had been sent to the state government and the company.
Besides, Muhammed said that a major construction firm, PW Nigeria Ltd., was also invited for explanations on some construction works in the state.
“We also invited PW construction company on its activity in the state. We also sent a letter to the AmericanUniversity of Nigeria over its ongoing five-star hotel and international conference room projects,” he added.
Muhammed, who noted that over one hundred engineers had been registered in the state in the past two years, nonetheless, stressed that the lack of maximum cooperation by construction companies in the state was hindering the fulfilment of the council’s assignment.
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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