Business
Rice Millers Raise Alarm Over Smuggling Of Foreign Rice Into Nigeria
The National Chairman, Rice Millers Association of Nigeria (RIMAN), Peter Dama, has raised the alarm over the smuggling of foreign rice into Nigeria following the reopening of Nigerian borders.
Dama, in a press statement, yesterday, praised the Nigerian Government on its efforts to ensure the growth in the domestic rice sector but expressed serious concern on the smuggling of foreign rice into the country.
“Millions of tons of smuggled rice is being off loaded at the following borders daily basis without any interruption, or checks by the customs and security agencies for onward transportation Into Nigeria markets, e.g. Kano, Abuja, Jos, Lagos and several cities in the country,” he said.
“The borders frequently used for the smuggling activities are Babura, Kongolon, Ibadan, Oyo State, Seme, Owede, Benin and so many other illegal routes into the country.”
Dama appealed to the Nigerian Government to properly equip and compensate adequately all customs officers manning the borders to enable them function effectively to reduce rice smuggling into the country.
He sympathised with officers and men of the Nigerian Customs Service and other security personnel who have been murdered in cold blood by smugglers.
“Any custom personnel or security agent found to be compromising his position through bribery and corruption to allow smuggled rice into the country should be arrested and prosecuted and if found guilty, be dismissed from service.
“Any truck or means of transportation used to transport smuggled rice into Nigeria through the borders should be confiscated with the entire goods, while the culprits arrested and prosecuted and jailed if found guilty.
“We appeal to the government to set in motion urgently committees made up of various security agencies to raid Nigerians markets and confiscate any smuggled rice found and marketers caught with smuggled rice products be termed economic saboteurs and be prosecuted.
“Stores owned by these unpatriotic economic saboteurs also be sealed up completely, until after paying up fines or after serving prison terms before such stores are reopened.
“These foreign rice sellers and distributors in the market are themselves economic saboteurs by accepting to market banned goods in the country, they should not be spared as they are contributing in the destruction of our common wealth and our attempt to be self sufficiency in national food security.”
He advised the Federal Government to subsidized rice millers, processors, and farmers in the entire rice value to make it more competitive.
Business
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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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