Business
Cassava Glut Blamed On Absence Of Value Addition
The All Farmers Association of Nigeria (AFAN) has blamed the much-talked about cassava glut in the country on the lack of processing to ensure value addition.
The National Vice President of AFAN, Chief Tola Adepomola, said this while speaking with newsmen yesterday in Ibadan.
Adepomola noted that during the Obasanjo-led administration, which initiated the Presidential Initiative on Cassava, there was a lot of hullabaloo about cassava glut.
“There is glut because cassava tubers are not processed into products that can be kept on the shelf for longer period.
“There is glut because cassava is not processed into high quality cassava flour and chips that can be exported to other countries, that’s why we have glut,” the AFAN chief said.
According to him, the glut was in respect of tubers and not cassava products.
“We are not processing our cassava tubers into starch. They are importing most of the starch they are using in Nigeria today,” he said.
Adepomola said that in reality, if cassava was processed into finished products, there would never be glut in the country.
But without further processing, there would be glut of tubers which could also get spoilt and wasted due to poor storage facilities.
He stressed the need for linkage between cassava farmers and companies in need of the tubers to enhance market information.
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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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