Business
Moniepoint Harps On MSMEs Importance
The Managing Director, Moniepoint Microfinance Bank (Moniepoint MFB), Babatunde Olofin, has underscored the importance of micro, small and medium enterprises as enablers of diverse economic growth.
Olofin said MSMEs can lead the charge towards a sustainable and prosperous future with proper support from governments, financial institutions and consumers.
He noted that from economic downturns to global crises, MSMEs have continued to demonstrate remarkable resilience and adaptability, in facilitating economic growth and development across borders.
He outlined that, driven by the increased need to improve access to financial services to power sustained and inclusive progress, Moniepoint MFB remains committed to providing peerless and holistic support for MSMEs in order to boost their capacity to achieve the Sustainable Development Goals.
He said the bank would continue to promote innovation, creativity, and sustainable business practices across the country.
According to him, Moniepoint is willing to partner with all stakeholders to create an environment that supports MSMEs in their efforts to invest, trade, and thrive in local and global markets, harnessing the attendant developmental benefits.
“We recognize that MSMEs are the lifeblood of the Nigerian economy. Millions of people depend on them everyday for food, daily necessities, and sustenance.
“For businesses across Nigeria, we have just one promise – we’re always going to be here to make you happy.
“As we celebrate this year’s World MSME Day, we must all acknowledge the hard work, dedication, and perseverance of MSMEs and the driving charge to not only bolster economic stability but also foster sustainable development, helping to eradicate poverty and improve quality of life for Nigerians.
“On a day like this, we must renew our commitment to join hands – agencies of government, private sector operators, and all stakeholders – to continue supporting MSMEs through policies, funding, and capacity-building initiatives. By empowering MSMEs, we pave the way for a more sustainable, inclusive, and prosperous future for all, especially the coming generations”, Olofin said.
He noted that Moniepoint MFB has been widely recognised for its innovative efforts at giving small businesses access to digital financial services, including the ability to accept payments, access working capital loans and manage their finances, that helps them to increase productivity, serve customers better, and ultimately to grow.
According to him, in its bid to further champion the survival of small businesses, Moniepoint MFB recently provided incentives to some business owners across Nigeria to ensure the lights are kept on.
Gift vouchers ranging from three-month worth of inventory restock for a general retail services provider to two-month worth of sewing material to a tailor even as a food and drinks supplier received a fuel voucher in order to solve his logistics needs amongst other recipients.
The beneficiaries, who expressed their gratitude to Moniepoint, noted that the gesture would go a long way to boost their productivity and ensure that they can better serve their local communities.
“As the sector closest to local communities, MSMEs are essential for creating local jobs, empowering women, youth, persons with disabilities and other groups in vulnerable situations. Commemorating MSME Day is a recognition that this vital sector, who are the agents of innovation, growth, and sustainability, at the heart of our societies has tremendous potential to unlock critical pathways to accelerate SDG progress across the globe”, Olofin said.
According to the United Nations, MSMEs account for over 90 per cent of businesses and 60 to 70 per cent of employment worldwide.
#These enterprises make up 50 per cent of global Gross Domestic Product (GDP). They contribute to the global economy and sustain livelihoods, particularly among the working poor, youth, women, and workers in vulnerable situations.
It will be recalled that following a resolution adopted by the UN General Assembly in April 2017, 27th of June was designated as “Micro-, Small, and Medium-sized Enterprises Day” to raise awareness of the tremendous contributions of MSMEs to the achievement of the United Nations Sustainable Development Goals (SDGs).
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The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.
Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.
Rather, he said they were mere opportunities for education, correction and continuous improvement.
The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.
He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.
“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .
According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.
He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.
The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.
“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.
The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.
In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.
Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.
Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.
By: King Onunwor
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.
According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.
The policy compelled many customers to regularise their biometric records to retain access to banking services.
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.
The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.
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.
The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.
The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.
The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.
In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.
He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.
Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.
According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.
He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.
The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.
He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.
He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.
Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.
He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.
Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.
As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.
Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.
Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.
He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.
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