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Nigerian Banks Lose 2million Customers In Two Years -Statistics

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Despite Central Bank of Nigeria’s effort to promote financial inclusion,Nigerian banks lost over 2 million customers between 2016 and 2017.
According to statistics from the Nigeria Inter-Bank Settlement System (NIBSS), the number of active bank accounts also reduced by 1.5 million, dropping from 65 million to 63.5 million.
The statistics obtained from the NIBSS website on Sunday, showed that the total number of bank customers dropped from 61 million in 2016 to 59 million in 2017.
According to NIBSS, the banking sector, however, made great strides in linking customers’ account using the Bank Verification Number (BVN).
The report showed that linked BVN accounts grew from 26 million in 2016, to 41.3 million in 2017. According to a banking industry source, the reduction in banking customers is not unconnected to the Federal Government’s declaration to fight against corruption.
“When Buhari assumed office, many people abandoned their accounts, especially civil servants because of fear of investigation.
“While some out rightly closed down their accounts, others opted for gradual withdrawal so as not to raise alarm,’’ the source said.
The source, who works at one of the top five banks in the country, blamed the BVN for the low patronage of banking products, especially in the rural areas, where awareness was already very low. A bank customer, Mr Olaitan Alagbe stated that she closed some of her accounts due to unnecessary and illegal charges by banks. “First of all, the interest rate is next to nothing, so there is little reason to keep your money at the bank when you can turn it over doing other businesses,” she said. Another customer, who preferred to remain anonymous said he opened several accounts during the Ponzi scheme boom in the country, but was forced to abandon them after the schemes crashed in late 2016 and early 2017. However, a source at the CBN said that the reduction in the number of banking customers was caused mainly by the introduction of BVN.
“The reduction may not necessarily be a bad thing. For example, many people opened accounts using different variations of their names.
“A person bearing Musa Salisu Mohammed, may have other accounts as Salisu Mohammed or Musa Salisu. “So with the introduction of BVN, such customers were forced to regularise their names, however, some opted to close down their accounts, which resulted in the reduction of active bank accounts and customers,’’ the source said.
The CBN source was, however, optimistic that the financial inclusion strategy of the bank would succeed in bringing in more people into the formal banking system.
The Financial Inclusion strategy aims to ensure that major bulk of the money in the economy remains within the banking sector.
A major challenge in the financial inclusion process is how to ensure that the poor rural dwellers are carried along considering the lack of financial sophistication among this segment.

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US Embassy, Lagos Consulate Close Today For President’s Day

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The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.

The mission made this known in a notice shared on its official X page, yesterday.

“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.

According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.

The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.

In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.

Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.

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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role

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United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.

Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.

The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.

Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.

“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.

The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.

Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.

The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.

In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.

“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.

Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.

He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.

Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.

 

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Four To Face Death Penalty Over DPO Angbashim’s Murder

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A Rivers State High Court sitting in Port Harcourt has convicted and sentenced four persons to death by hanging over the gruesome killing of the former Divisional Police Officer of Ahoada East Police Division, SP Bako Angbashim.

The presiding Judge, Justice Sika Aprioku, in a landmark judgment, last Thursday, found the quartet guilty of conspiracy, murder, membership of a secret cult group and robbery, saying the prosecution proved its case beyond reasonable doubt.

Those sentenced to death by hanging are Robinson Sonabari, identified as a native doctor; Bright Okparawo; Precious Amaeze, popularly known as Selina; and Loveday Jack, also known as Ragged Excess. The court ordered that they be hanged by the neck until they are confirmed dead.

Justice Aprioku also convicted the sixth defendant, Samuel Nwadinma, and sentenced him to three years imprisonment for conspiracy.

The third accused person was, however, discharged and acquitted of the four-count charge.

In the same vein, the court discharged Famous Okechukwu, Samuel Uchendu, Oyekachi Ikonwa, Godbless Nnamdi and Marshall Daniel, who were earlier found guilty of membership of a secret cult group, on the grounds that they had already served the maximum terms prescribed by law in the correctional facility.

The court held that among those convicted was the native doctor who allegedly prepared the charm used in the killing of the late DPO.

Speaking with newsmen shortly after the judgment, the lead prosecution counsel from the Rivers State Ministry of Justice, Chigozie Amadi, alongside a representative of the police legal team, Celestine Dickson, commended the judiciary for ensuring that justice was served.

Dickson, who represented the Nigeria Police Force in the joint prosecution, expressed concern that officers saddled with the responsibility of protecting lives and property had increasingly become targets of criminal elements.

He, however, expressed optimism that the judgment would serve as a strong deterrent to would-be offenders.

Also reacting, the elder brother of the late DPO, Akasco Angbashim, who travelled from Nasarawa State to witness the judgment, said the verdict had healed a long-standing wound inflicted on the family since the brutal murder of their brother.

He commended the judiciary, the Rivers State Government and the police for their commitment to justice, stressing that the judgment sends a clear message that no individual has the right to unlawfully take another person’s life.

The four convicts were among 72 persons initially arraigned before the State High Court by a joint prosecution team comprising the Department of Public Prosecutions and the Rivers State Police Command over the murder.

During the trial, 61 accused persons, including the Eze Ekpeye Logbo, Eze Kelvin Anugwo, and a former Ahoada East Council Chairman, Cassidy Ikegbidi, were discharged and acquitted for lack of evidence, leaving 13 defendants to face judgment.

SP Angbashim was gruesomely murdered on September 8, 2023, during a police operation in Odemude community, Ahoada East Local Government Area.

His killing sparked tension in the area, prompting a joint security operation that led to the death of the suspected cult leader, David Okparanwo, popularly known as 2Baba.

By: King Onunwor

 

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