Business
Fadama Disburses N367m
Delta State Fadama III Project Coordinator, Mr Anthony
Abanum,says the programme has disbursed about N367 million to 1,314 Fadama User
Groups (FUGs) in the state as at May
this year.
Abanum said that the programme had also funded rural
infrastructure in 13 participating Local Government Areas with N37.5 million as
at the end of last month.
He made the disclosure while speaking on Sunday in Asaba on
the progress report of the programme.
He said that 110 Fadama Community Associations, made up of
1,314 FUGs in 20 participating LGAs benefited from the funds.
He, however, noted that the major setback of the programme
was the non-payment of counterpart funds by the participating LGAs, whose debt
obligations he put at N160.5 million.
The FADAMA coordinator said that available records showed
that Ika South and Oshimili South LGAS had not contributed anything to the
programme and consequently, had N20 million debt over-hang.
A total sum of N40.5 million was paid as counterpart fund by
18 LGAs while N160.5 million was the outstanding debt of the 20 participating
LGAs since the inception of the programme.
“Oshimili South and Ika South LGAs with 50 and 51 FUGs, have
not made any contributions but have received N1.7 million and N870, 000
respectively,’’ he said.
On the funded rural infrastructure, the coordinator said
that Fadama constructed 250 metre wooden bridge at Gana Oton in Sapele LGA at a
cost of N4.89 million.
He said that N1.56 million was utilised for the
rehabilitation of 20 units of market stalls with toilets and water supply at
Ovrode in Isoko North LGA.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
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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