Business
FG Lauds IITA’s Strides In Cassava Production
Nigeria’s Minister of Commerce and Industry, Senator Jubril Martins-Kuye, has commended the International Institute of Tropical Agriculture (IITA’s) contribution towards cassava enterprise development, as the country intensifies the campaign to diversify its economy.
Kuye gave the commendation during the inauguration of a garri processing center in Lafia, Nasarawa State.
The center, which is the third to be commissioned within two years was funded by the Common Fund for Commodities, but implemented by IITA and partners including the Federal Ministry of Commerce & Industry, and the Farm and Infrastructure Foundation.
The two, earlier inaugurated by the team included, the Joe Bergg Cassava Processing factory in Masaka, Nasarawa State; and Shaback Garri Processing factory in Kuje, Abuja.
In his words, Martins-Kuye said, “I must also appreciate IITA, the Project Executing Agency, for their relentless efforts towards the success of this project.”The Garri Processing factory in Lafia comes as a relief to a women group of more than 50 that are engaged in garri processing in the village of Agwan Mada, a suburb in Lafia.
Specifically, it has a capacity of processing at least one tonne of garri per day in a hygienic environment thereby guaranteeing food safety and security.
Martins-Kuye who was represented by the Permanent Secretary, FMC&I, Dr. A. K. Muhammad said the processing center would add value, enhance competitiveness and reduce waste in the cassava value chain.
According to him, “For any commodity to attract premium price in the market, both locally and internationally, it must necessarily pass through some level of processing.” While expressing the willingness of Nigeria to continually support such projects, the minister noted that the Garri Processing Center would not only absorb the cassava produced in the country, but also spur the cultivation of the crop.
The Women Leader of the benefiting group, Mrs. Talatu Umaru, who spoke on behalf of her colleagues, pledged that the group would ensure the judicious use of the factory.
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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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