Business
C’River, Thai Firm To Build Rice City In Africa
The Cross River State Government and a Thai firm, Thai-Africa Corporation have signed a Memorandum of Understanding (MoU) for the development of what would be the first Rice City in Africa, in the South-South state.
In a statement, Christian Ita, the Chief Press Secretary/SA Media To Governor Ben Ayade, explained that the agreement was signed at a ceremony in Bankok, the capital of Thailand.
Professor Ben Ayade signed on behalf of his state while Ms. Pantipa Dhangom, the Executive Director of the Thai–Africa Corporation, signed on behalf of her organization.
Since assuming office, Governor Ayade has severely pledged to make Cross River State the number one rice producing state in the country.
According to the MoU, Thai-Africa will be the core investor, who will develop the Rice City project in partnership with Cross River State Government.
Details of the project as highlighted in the MoU indicate that the Rice City will have a solar mediated and automated rice seedling and nursery propagation centre, rice plantation with irrigation infrastructure and mill including packaging and distribution.
The centre will also have an Agriculture Training Centre, which will oversee the development of various economic crop projects including but not limited to oil palm, sugar cane, cassava, maize, soya beans and more.
It will also have a full mechanized site clearing, planting, weeding and harvesting equipment.
Thai-Africa Corporation is to facilitate international funding for the execution of the various projects.
The business relationship is expected to attract multi-billion dollars investment into Cross River State.
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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.
