Business
Farmers Decry Under-Pricing Of Fish
The Catfish Farmers Association of Nigeria (CAFAN) in Oyo
State says its members are now adding value to harvested fish in order to check
under-pricing of fresh fish in the market.
CAFAN’s new Chairman in the state, Mrs Modupe Kolade, told
newsmen in Ibadan on Tuesday that the value addition was in form of drying
of fish to elongate the shelf life.
“It is unfortunate that the fish-mongers have been
exploiting us by offering us ridiculously low prices for our harvest and we are
forced to sell to them, ’’ Kolade said.
The CAFAN chief said exploitation of their members was
inevitable as they could not refuse to sell as fund was required in sustaining
and feeding unsold stock in the fish pond.
Kolade, however, said many CAFAN members in the state had
resorted to drying their harvested fish and selling them thereafter at good
prices.
“Due to the adoption of value addition, we don’t sell fresh
fish anyhow or in large quantity as we used to do in those days”, she said.
Kolade said that investigation had shown that apart from the
longer shelf life, dried fish remained tastier than fresh fish and often lasted
longer in home-made stew.
“Our members have confirmed that they make more profit now
that they dry their harvest as they are able to control the price than when
they sell it fresh, ’’ she added.
Kolade said because of the value addition, the amount of
fresh fish available in the market had gone down considerably.
She said fresh fish may also be scarce because some
fingerlings were yet to reach maturity in the ponds as harvesting was usually
done after three to four months.
The CAFAN chairman told newsmen that by the end of October,
the association would organise a fish fair in Ibadan, adding that a committee
to organise the programme had been constituted.
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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