Business
PENGASSAN Urges Review Of Obsolete Labour Laws
Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the federal government to review all labour laws to engender good and robust industrial relations system in the country.
The Association noted that the mediation aspect of the labour laws should be the focus of the proposed review.
In his address at the National Executive Council meeting of PENGASSAN in Warri, Delta State on Thursday, the President, Mr Babatunde Ogun, said there is need to review some of the country’s labour laws that are now obsolete, especially the aspect of the law that deals with mediation.
“Under the current laws no power is given to the Minister of Labour and Productivity while mediating in industrial dispute but the minister can only advise the parties. The law should be reviewed in a way that the minister will get power to make binding pronouncements on parties while mediating,” he said.
He condemned the inability of the government to enforce all conventions and other extant labour standards of the International Labour Organisation (ILO) that have been ratified by the Federal Government.
“The government should evolve political will to enforce all conventions of the ILO and should not just leave Nigerian workers at the mercy of the employers, who are more profit oriented at the expense of developing human capacity in the country. Most of these conventions have provisions to ensure human dignity, improve workers’ welfare and protect workers against degradation while at work,” he said.
While calling for the review of selection process of judges of the National Industrial Court, Ogun expressed dismay at some of the judgments of the court, alleging that this shows that some of the judges did not have experience in extant labour laws and history.
“We discovered that the pronouncement by some judges of the NIC leaves much to be desired, as some of them have demonstrated lack of knowledge on the extant Labour laws, Nigerian constitution and the international labour conventions,” he said.
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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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