Read More: https://punchng.com/osun-poll-experts-flag-tracking-hurdles-as-inec-probes-n100bn-spending/
ICPC exposed how senior officials in the federal civil service helped the organisation obtain administrative approvals and gain access to government financial systems despite its questionable legal status.
The post Fake Agency Scandal: ICPC names top civil servants who allegedly aided Adeyemi, collected money appeared first on Premium Times Nigeria.
Nigeria’s electricity distribution companies (DisCos) failed to collect N669.49 billion from electricity bills issued to customers in 2025, raising fresh concerns over the financial health of the power sector.
The Nigerian Electricity Regulatory Commission (NERC), in its 2025 Annual Report, said the DisCos supplied electricity worth N3.68 trillion during the year but billed customers N2.99 trillion.
However, only N2.32 trillion of the amount billed was collected, leaving N669.49 billion unpaid.
NERC said this translated to a collection efficiency of 77.60 per cent.
“The total billing to electricity consumers by the DisCos was N2,988.30 billion, but only N2,318.81 billion was collected, translating to a collection efficiency of 77.60%,” the commission said.
The figures mean that the DisCos collected about N77.60 for every N100 they billed customers, leaving about N22.40 uncollected. The amount of unpaid bills also increased significantly compared with the previous year.
NERC said the DisCos left N536.95 billion uncollected in 2024. This rose to N669.49 billion in 2025, representing an increase of N132.54 billion, or 24.7 per cent, in one year.
The regulator’s report showed that the problem was not only about customers failing to pay their bills. A substantial amount of electricity supplied by the DisCos was not billed to customers in the first place.
According to NERC, the N3.68 trillion worth of electricity supplied during the year translated to a gross billing efficiency of 81.14 per cent. This means electricity worth about N694.80 billion was supplied but not billed.
The commission said the combination of poor billing and collection continued to put pressure on the finances of the Nigerian Electricity Supply Industry (NESI).
It said the inefficiencies were “weakening the financial liquidity” of the industry and limiting its ability to support new investments.
The financial difficulties also affected the DisCos’ payments to other participants in the electricity market.
NERC said the Nigerian Bulk Electricity Trading Plc (NBET) and the Market Operator issued gross invoices of N1.72 trillion to the DisCos in 2025 for energy costs and administrative services.
The DisCos paid N1.63 trillion, representing 94.80 per cent of their obligations, leaving a shortfall of N89.58 billion.
The regulator described the unpaid amount as an underpayment attributable to market participants.
The situation highlights one of the major problems confronting Nigeria’s power sector: generating and distributing electricity is only part of the challenge; collecting the money owed for the power supplied remains a major issue.
When DisCos fail to collect enough revenue, they have less money available to meet their financial obligations and invest in infrastructure.
This can affect their ability to maintain distribution networks, replace faulty equipment, expand their networks and improve electricity supply to consumers.
The latest figures also come against the background of continuing problems with metering and accurate billing. Many electricity customers remain unmetered, while disputes over estimated bills and complaints about inaccurate billing have remained common.
NERC has been pushing measures to improve metering, billing and revenue collection, while also strengthening consumer protection.
The commission has also taken regulatory action against DisCos over poor performance and non-compliance with its rules. In one recent case, NERC took over regulatory oversight of Kaduna Electricity Distribution Company after finding serious financial and operational weaknesses.
The regulator said Kaduna DisCo had a collection efficiency of only 46.69 per cent in 2025, while its billing efficiency stood at 61.56 per cent.
Across the wider sector, the latest annual figures show that the problem remains significant despite ongoing reforms.
The Electricity Act 2023 introduced changes aimed at improving competition, attracting investment and expanding electricity access, including allowing states and private investors to play a bigger role in the electricity market.
But NERC’s latest figures suggest that improving the financial performance of DisCos remains critical to achieving the broader goals of the reforms.
For consumers, the revenue problem has a direct connection to the quality of electricity services they receive. If DisCos cannot recover enough money from the electricity they supply, their capacity to invest in better infrastructure and provide more reliable service is weakened.
The N669.49 billion uncollected in 2025 therefore represents more than unpaid bills. It is money that could have helped strengthen the electricity distribution system and support investment across the sector.
NERC’s figures show that unless the industry can reduce billing gaps, improve metering and ensure that more customers pay for the electricity they consume, the financial problems affecting Nigeria’s power sector will remain difficult to resolve.
The post DisCos failed to collect N669.5bn electricity bills in 2025 –NERC appeared first on The Sun Nigeria.
Nigerians’ appetite for stronger digital identity protection has pushed Bank Verification Number (BVN) enrolments to 69,972,475 as of August 23, edging closer to the 70 million mark and underscoring the growing role of biometric authentication in the banking system.
Data obtained from the Nigeria Inter-Bank Settlement System (NIBSS) website on wednesday showed that BVN enrolments rose from 69,789,193 recorded on August 3, adding nearly 183,000 new registrations over three weeks.
That pace marks a notable pickup from the 63,336 increase logged between July 27 and August 3, suggesting that adoption of biometric identification across the financial industry is gathering momentum rather than slowing.
The acceleration is consistent with the broader upward trend in Nigeria’s BVN database, which stood at 69.55 million in early July 2026 before climbing steadily through the following weeks. The trend points to continued expansion of Nigeria’s identity infrastructure at a time when banks and customers face rising concerns over account security, cyber fraud, and the compromise of conventional authentication tools such as passwords and personal identification numbers.
In an increasingly digital banking environment, biometrics has become a more trusted layer of verification, particularly for access to sensitive financial services and personal information.
The BVN system, introduced by the Central Bank of Nigeria (CBN) and managed by NIBSS, has become a key instrument for reducing fraud and strengthening the integrity of the banking ecosystem.
By linking customers’ biometric data to their bank records, the system makes it easier for banks to verify identity, track duplicate accounts, and reduce the use of false credentials.
For many financial institutions, BVN is now central to customer onboarding, compliance checks, and transaction security.
The climb toward 70 million suggests that more Nigerians are still being drawn into the formal banking system, with the recent uptick in weekly enrolments hinting at renewed urgency around identity verification.
The latest data also highlights the resilience of the biometric framework as banks continue to push digital services across mobile, internet, and agency banking channels.
As more transactions move online, the importance of reliable identity verification has become more pronounced. According to NIBSS, biometric authentication is increasingly being viewed as a practical answer to the weaknesses of traditional security methods.
“Passwords can be forgotten, stolen or guessed, while PINs can be compromised through phishing, social engineering or device intrusion. Biometrics, by contrast, uses physical characteristics such as fingerprints or facial features, making unauthorised access harder to achieve. That advantage has made biometric systems more attractive to banks, regulators and fintech operators seeking to reduce operational and security risks,” the central infrastructure body said.
A stronger identity framework can help bring more people into the banking system by making account opening and verification easier, faster, and more reliable. For rural and underserved populations, biometric identity can also reduce documentation barriers that have historically limited access to formal financial services. In that sense, BVN is not only a fraud-prevention tool but also an infrastructure platform for expanding access.
At the same time, the continued growth of BVN enrolments may help deepen confidence in the banking system. Customers are more likely to trust digital channels when they believe their identities and funds are better protected. That trust is important for savings mobilisation, payments adoption, and broader financial sector stability.
As banks continue to digitise, the effectiveness of biometric authentication could become a competitive differentiator. For the banking industry, biometric authentication is no longer an optional upgrade but a core requirement in an era of rising digital fraud risks.
If the current pace of growth holds, Nigeria’s BVN database could cross the 70 million threshold within the next few weeks, marking a symbolic milestone in the country’s push toward a more secure and inclusive digital identity system.
The post NIBSS: BVN enrolment gains momentum, nears 70m appeared first on The Sun Nigeria.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have pledged closer collaboration to raise Nigeria’s crude oil production to 3 million barrels per day (bpd) and gas output to 12 billion cubic feet (bcf) daily by 2030.
The commitment was made in Abuja on Wednesday by PENGASSAN’s new President, Mr. Bosun Olabiyi-Agoro, during a visit to the headquarters of the NUPRC.
At the meeting, both sides identified industrial stability and collaboration with workers as critical to achieving the Federal Government’s production ambitions.
Olabiyi-Agoro said the union was prepared to work with the commission to support the government’s target of 3 million bpd by 2030.
“The President of Nigeria has an ambition which he runs through the CCE which is to make sure that by 2030 we are able to produce 3 million barrels per day. All of us have to work to make that happen. It will be our happiness to make sure that that target is actually attained,” he said.
“We can assure you that we are here to collaborate. We will be very reasonable.”
The PENGASSAN leader, however, made it clear that cooperation would not compromise workers’ rights, warning that freedom of association and the right of workers to join unions remained non-negotiable.
He also identified contract staffing as one of the major issues his administration would seek to address in the oil and gas industry.
The NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, said Nigeria’s production had already recovered from about 1.1 million bpd a few years ago to an estimated 1.755 million bpd in 2026, but stressed that industrial harmony would be essential to sustaining and accelerating the growth.
Eyesan said the Federal Government’s recent policy measures, including the executive order targeting deep offshore investments, were designed to attract investment and boost upstream production.
She urged the new PENGASSAN leadership to support the commission’s efforts to achieve the 2030 targets.
“As you settle into your new role, be assured that the commission will give you 150 per cent cooperation. In addition to the support we will give you, we want to ask that we work very closely to actualise government objectives,” she said.
“We want to grow production from our current level to 3 million barrels in 2030. For gas, we are still doing under 8bcf and we want to grow that to 12bcf by 2030. So, let’s make that happen.”
The post PENGASSAN, NUPRC unite to raise oil output to 3m bpd by 2030 appeared first on The Sun Nigeria.
The Nigerian Maritime Administration and Safety Agency (NIMASA) has tightened enforcement of rules governing indigenous participation in Nigeria’s coastal shipping, warning that vessels and operators that fail to meet the country’s Cabotage requirements will not be allowed to operate.
The agency said the move is aimed at ensuring that jobs and business opportunities created by Nigeria’s Cabotage trade are reserved for Nigerians.
NIMASA said the enhanced enforcement is based on its statutory responsibility under the NIMASA Act 2007, the Coastal and Inland Shipping (Cabotage) Act 2003, as well as relevant regulations and implementation guidelines.
In a marine notice issued on Wednesday, the agency directed individuals and organisations seeking vessels for Cabotage operations to engage vessels that meet Nigeria’s ownership, registration, manning and construction requirements. Such vessels must also be registered in the Special Register for Vessels and Ship Owning Companies engaged in Cabotage.
NIMASA further directed vessel owners, operators, charterers, managers and other stakeholders involved in Cabotage activities to ensure that their statutory certificates, licences, registrations and other required documents remain valid.
Under the Cabotage regime, vessels operating in Nigeria’s coastal waters are required, where applicable, to be wholly owned by Nigerian citizens, registered in the relevant Special Register, manned by Nigerians and built in Nigeria.
NIMASA, however, said foreign vessels could only be considered where the required Nigerian capacity was unavailable and the necessary statutory conditions had been established and verified by the agency.
The agency said it would continue to monitor compliance with the Cabotage Act, its regulations and guidelines to strengthen maritime governance and prevent jobs meant for Nigerians from being taken by foreign operators.
The marine notice takes immediate effect.
NIMASA said the move would also support the development of local maritime capacity and ensure that Cabotage operations contribute more meaningfully to Nigeria’s maritime and wider economic development.
The agency said the enhanced enforcement was part of its broader commitment to promoting indigenous participation in both local and international shipping and ensuring that Nigerian businesses and professionals benefit from activities in the country’s maritime sector.
The post FG cracks down on cabotage violations, protects local jobs appeared first on The Sun Nigeria.
From Adanna Nnamani, Abuja
The Nigeria Social Insurance Trust Fund (NSITF) has urged the Nigerian Bar Association (NBA) to lead efforts to expand the legal framework for workplace protection and social security to cover workers in the informal sector, as well as gig and platform workers.
The Managing Director/Chief Executive of NSITF, Mr Oluseun Faleye, made the call at the 66th Annual General Conference of the NBA in Port Harcourt, Rivers State.
Faleye, who was represented by the General Manager, Abuja Region of the Fund, Mrs Bridget Ashang, spoke on the theme, “Beyond Limits: Expanding the Legal Frontiers of Workplace Protection and Social Security in Nigeria.”
He said Nigeria’s changing labour environment required the law to move beyond its traditional focus on formal employment and recognise workers operating outside conventional employment arrangements.
According to him, social security, as defined by the International Labour Organisation (ILO), provides access to healthcare and income security in situations including old age, unemployment, sickness, employment injury, maternity and the loss of a breadwinner.
Faleye described social security as a matter of social justice rather than charity, stressing that the Employees’ Compensation Scheme (ECS) was established to ensure that workers affected by employment-related injuries are not left without support.
The MD said the scheme helps reduce employers’ liabilities, supports workers’ recovery, ensures income continuity and protects productivity, while also contributing to improved occupational health and safety standards.
He noted that the ILO’s Social Security Convention No. 102 identifies nine branches of social security, including medical care, sickness, unemployment, old age, employment injury, family, maternity, invalidity and survivors’ benefits.
However, he said Nigeria’s existing legal framework still largely focuses on the formal sector, creating gaps in protection for workers operating in the informal economy and emerging forms of employment.
To address the gaps, Faleye called on the NBA to raise awareness and build knowledge around workplace protection and social security, while playing stronger advocacy and advisory roles on labour reforms.
He also urged lawyers to explore corporate audits and test-case litigation aimed at expanding the legal definitions of “employee,” “employer” and “workplace” to reflect the changing nature of work.
The NSITF boss further called for amendments to existing labour laws to accommodate informal workers, gig workers and platform workers, as well as consideration of platform liability in employment-related matters.
He urged the NBA to support the ratification and domestication of relevant ILO conventions, saying international standards could provide minimum benchmarks for social protection and help build confidence within the labour ecosystem.
Faleye also called for greater attention to inclusiveness when drafting laws establishing public institutions and organisations, stressing that no category of workers should be left outside the protection of the law. He said expanding workplace protection would help ensure that the dignity of workers is recognised regardless of the nature of their employment.
“Social security is how we honour that sweat. It is how we say: Your work has dignity and your life has value,” Faleye stated.
He urged the NBA and other stakeholders to work with the NSITF to strengthen the legal and institutional framework for social protection in Nigeria.
“Without the law, the Fund is silent. Without the Fund, the law is empty. Together, we can write a new social contract for Nigerian workers,” he said.
Faleye warned that failure to close existing legal gaps could leave significant numbers of workers excluded from workplace protection, urging the NBA to deploy the law as an instrument of social change.
The call came as thousands of lawyers gathered in Port Harcourt for the week-long 66th Annual General Conference of the NBA, where labour reforms and other legal and policy issues are expected to feature prominently in discussions.
The post NSITF tasks NBA on legal protection for informal workers appeared first on The Sun Nigeria.
Read More: https://punchng.com/generator-fault-triggers-kano-petrol-station-fire/
Read More: https://punchng.com/faan-faces-backlash-over-n30000-airport-taxi-fare/