Business
Slow Programme Implementation Worries World Bank
The World Bank has expressed concern over the slow pace of implementation of its 185 million dollars Commercial Agriculture Development Programme (CADP) in Nigeria.
The Tide reports that five states, Enugu, Cross River, Kano, Kaduna and Lagos are currently implementing the programme.
Mr Louis Akapa, the Bank’s Team Leader in charge of CADP, expressed the bank’s reservation on Monday in Abuja in an interview with The Tide.
He stressed the need for the five states to adopt “an aggressive” approach in the implementation of the programme.
Akapa also stressed the need for the authorities of the five states to identify the difference between CADP and Fadama programmes.
Akapa said: “The World Bank is not too happy with the implementation of the programme in the manner it is being run as a small scale farmer’s project.
“This is totally not in line with the concept of CADP, which is a public-private driven initiative.
“CADP is meant for big time farmers who have all it takes and have been in business for at least three years.”
He warned that if there was no improvement in the implementation of the programme, the bank would not hesitate to withdraw its participation.
“Any state which achieves 30 per cent endorsement in the implementation of the programme by 2011 will enjoy additional 50 million dollars funding from the World Bank.
“With the element of competition among the five states outlined in the programme, any one of them that does not hasten its rate of implementation will not enjoy additional funding,” he added.
Akapa described CADP as a “national tool for agricultural development,” saying it was predicated on the principle of transparency, sustainability and accountability.
He said members of his team and officials of the five states had met to proffer solutions to the challenges militating against the implementation of the programme.
He expressed the hope that the nation’s agricultural sector would be fully developed in the next few years to drastically reduce poverty, if the World Bank’s programmes were implemented.
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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.
