Business
IITA Warns Nigeria On Effect Of Cassava Exportation
The International Institute for Tropical Agriculture (IITA) has warned Nigeria against cassava export, saying the country would not get full value from the export.
The IITA Station Manager, Mr Olusegun Adunoye, made this known in an interview with newsmen in Kubwa, a satellite town in Abuja on Sunday.
Adunoye said: “if Nigeria exports its cassava, it will only be refined and sold back to us at exorbitant prices.’’
He said Nigeria should produce and refine its cassava, as this would not only generate more revenue for the country, it would also empower the youths.
“We should not export our cassava, instead, we should encourage other countries that need cassava to come and open industry in Nigeria.
“We would not get value for our effort once we start exporting cassava.’’
The station manager said that the world had turned Africa to a farm where raw materials came from “and that is perpetual enslavement.
“There must be processing and value addition in Africa.’’
Adunoye, however, said that the use of cassava in bread baking, pastries and confectioneries would reduce the importing bills of the country.
He added that it would also better the lives of the poor farmers.
Business
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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.
Business
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