Business
Akinyemi Proposes 25-Year Dev Plan
A former External Affairs Minister, Prof. Bolaji Akinyemi, has recommended a 25-year development plan for Nigeria to aim to be in High Development category in the Human Development Index within five years.
Using the yardstick in the Human Development Report, he said Nigeria should aim for an annual increase by 10 to 15 positions, away from its current position of 156 out of 186 countries in the 2011 report.
Akinyemi noted that Nigeria has always been ranked in the Low Human Development in the Human Development Reports of the United Nations Development Programme (UNDP), and to move up the ladder “will necessitate more funds in the education, power and health sectors.”
The UNDP groups countries into four categories, namely, Very High Human Development, High Human Development, Medium Human Development and Low Human Development, but it was only in 2009 that Nigeria moved up to the last position in the Medium Human Development level.
However, Akinyemi, a former Director-General of the Nigeria Institute of International Affairs (NIIA), Lagos, said his envisaged development plan would emanate from a National Conference.
“This 25-year plan can only emerge from a National Conference where the elite, from all over the country, driven by the fact that if they don’t hang together, they will hang separately, will bury suspicion and age-old fears and grievances to save themselves and the nation,” he said.
At a one-day national seminar on corruption hosted by the Niger State Government in Minna on Thursday, the Professor of International Relations and Diplomacy laid out his suggestions based on the following:
• Genuine war against corruption, with no bail for those charged with corruption, no appeal to high courts during the trial and life imprisonment with forfeiture of all assets stolen. The onus should be on the accused to prove he or she acquired the assets legitimately.
• There must be a conscious constitutional and public policy effort to grant all Nigerians a feeling of belonging and inclusiveness. Noting that perception is often stronger than reality, he said there is no justification for the Northeast and Southwest zones to have been excluded from the top 12 posts at the federal level, just as there is no justification for the two National Assembly sub-committees coordinating the Constitutional Amendments process to have been headed by two chairmen from the same zone (Southeast) in the country.
• No federal office holder should have an ADC, Press Secretary, Special Assistants or Chief of Staff from his own zone.
• In each State Assembly, 10 per cent of the seats should be reserved for non-indigenes.
• In each state cabinet, at least two posts must be reserved for non-indigenes.
• Federal Ministries should be graded in terms of strategic importance and appointment of Ministers should be such that all zones are represented in each grade.
• There should be a war on poverty such that by the end of that 25-year period, those below the poverty level will be less than one per cent.
• Using the yardstick in the Human Development Report, Nigeria should aim for an annual increase by 10 to 15 positions and aim to be in the High Development category within five years. This will necessitate more funds in the education, power and health sectors.
• There should be adoption of policies designed to generate massive employment.
• There should be a firm commitment to religious tolerance, as nothing will emphasise this more than people of different faiths occupying the posts of Governor and Deputy Governor in states with a multi-religious complex.
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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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