Business
Farmers Decry Flouting Of Food Importation Directive
Farmers in Rivers State have cried out against the flouting of the directive by the Federal Executive Council (FEC) to stop the importation of food stuffs due to poor implementation policy.
The spokesperson, Farmers and Traders Welfare Association of Nigeria, Rivers State chapter, Azubuike Nchelem made this known in an interview with The Tide, last Saturday, in Port Harcourt.
Nchelem noted that the FEC had in 2017 placed a ban on importation of all food stuffs from outside the country.
He expressed dissatisfaction, saying that for more than one year since the government announced the policy, there does not seem to be any real effort at ensuring that the policy is implemented.
According to him, “the restrictions on food importation seem to be ignored as food is still being imported into the country and it is causing huge loses to farmers, because we do not yet have an effective storage system.”
He expressed regrets that the continued food importation was depriving Nigeria of a chance to improve her Gross Domestic Product (GDP), adding that it was hurting the diversification policy and preventing the promotion of employment, the boosting of local production and ensuring food sufficiency.
According to him, “the poor implementation has put a heavy dent in the nation’s economic improvement policy and caused huge losses in revenue. This, therefore, would surely not encourage local farmers to remain in the farming business.”
Nchelem thus appealed to the government to take proactive steps that would ensure the implementation of the ban directive to ensure that local food production thrives.
Tonye Nria Dappa
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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