Business
IFAD Appeals To N’ Delta Govs Over Funding
The International Fund for Agricultural Development (IFAD)-assisted Community-Based Natural Resource Management Programme (CBNRMP) has appealed to governors of the nine Niger Delta states to pay their counterpart funds promptly to enable the programme achieve its goal.
Mrs. Irene Jumbo-Ibeakuzie, the national programme coordinator, made the appeal in an interview with in Libreville on Sunday.
Jumbo-Ibeakuzie said that the non-payment of counterpart funds by some of the states was jeopardising the effective implementation of the programme.
The affected states are Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers.
She urged, particularly, state governments which had invested in huge agricultural projects, to partner with the programme to ensure that the projects produced maximum results.
Jumbo-Ibeakuzie cited the Songhai Centre established by the Rivers State Government as one project that should be used as a springboard to alleviate poverty in communities in the state, in partnership with the CBNRMP.
“The Songhai farm in Rivers State, for example, is a programme like ours that they can use to step it down to the rural communities and to the rural farmers, who are well known to us and at a very cheap cost to them.
“You can have a large programme but if you are not able to step it down, the dividend of that project would not be fully realised.
“So, we appeal to them to pay their counterpart funds to enable us to create wealth and impact on the livelihoods of farmers.’’
The coordinator said that the programme was promoting agriculture as a business venture rather than for subsistence, stressing that the era of subsistence farming was over.
According to her, the payment of counterpart funds would enable the programme to access IFAD funds to be able to implement projects that would create wealth, reduce unemployment and crime as well as stem rural urban migration.
Furthermore, she said that it would assist in empowering women to engage in economic activities that would enhance nation building.
“We are preaching business agriculture in which there is profitability; we want to create wealth through agriculture.
“We want to create employment through agriculture and if they pay their counterpart fund, it will reduce the unemployment rate in the rural area; it will stem rural-urban migration and there will be food basket.
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.
