Business
Fish Traders Resume Business In Maiduguri
Fish traders in Borno State have expressed joy over resumption of activities at the Baga and Maiduguri fish markets following the restoration of peace in the area.
A cross section of the traders according to The Tide source on Saturday in Maiduguri said that the development would boost trade and stabilise fish prices.
Malam Amadu Na-Ai, said that trading had resumed fully at the two markets after they were closed down in the past three years due to the Boko Haram insurgency.
Na-Ai said that buyers were now coming from the southern parts of the country to buy fish in Maiduguri.
“Traders from Lagos, Port Harcourt and Aba are coming to buy fish here.
“Presently, we are enjoying high patronage and the market condition is good,” he said.
Another trader, Sadiq Kowanaka, added that the resumption of trading activities at the market had pushed prices down.
Kowanaka explained that prices were going down on daily basis due to improvement in the supply chain.
He said that a basket of dried fish was sold at N25, 000 as against its previous price of N40, 000.
“Fish prices have gone down by about 35 per cent following resumption of trading activities at the fish market,” he said.
Kowanaka, however, lamented that most the traders lost their capital due to the insurgency and called for support to enable them to return to the trade.
Chairman of the Lake Chad Basin Fishery Association, Abubakar Gamandi noted that the provision of modern fishing and conduct of weeds clearance exercise in the river would encourage fishing, reduce wastage and end scarcity of fishery products.
Gamandi said that lack of modern fishing tools and processing equipment was a major obstacle militating against sustainable development in the sector.
He said the Boko Haram insurgency had negatively affected the trade and resulted in acute scarcity of fishery products.
“The insurgents had destroyed canoes, tools and ravaged fishing communities in the Lake Chad basin.
“In the wake of the insurgents’ attacks, about 204 fishing communities were destroyed while about two million fishermen were displaced.
“The activities of the insurgents disrupted fishing in the past four years forcing thousands of people out of job,” he said.
The chairman said that some of the fishermen had returned to resume their activities sequel to the lifting of ban on fish trade by the military.
He, however, lamented that members of the union could not carry on with fishing due to lack of canoes and other tools.
“Initially, we relied on wooden canoes and local tools, but they were vandalised by the insurgents.
“Devastating weeds had also outgrown in the river which made fishing practically impossible,” he said.
The Tide source reports that Baga is one of the major fish trading centres in the North-East, where various types of fish are bought and transported to other parts of the country.
There is also a big population of fishermen in the area due to the availability of fish and other aquatic species in the lake.
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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