Business
NAFDAC Alerts On Fake Palm Oil
The National Agency For Food, Drug Administration and Control (NAFDAC), Enugu, has warned of adulteration of palm oil in the state.
The Unit Head of NAFDAC in Enugu, Mr. Udoekpo Ekpo, told newsmen in the Enugu State capital that palm oil in some markets in the state was mixed with chemical substances such as Anagodye and Sudan II to enhance the reddish colour.
Ekpo said the chemical substance could cause cancer and other ailments in the body. The NAFDAC official therefore urged dealers to desist from such ventures, which could result in the death of consumers.
On how the fake palm oil could be identified, Ekpo said, the “unfortunate thing is that it will be difficult to identify this product by mere looking, for us to identify the adulterated one, we took samples to the laboratories. People should have human feeling. You don’t jeopardise the life of your fellow human beings to make money”.
Ekpo accused palm oil dealers in the cities of using the dangerous substance to increase the quality of the product in order to make more money.
According to him, NAFDAC has introduced regular checks on companies that produce consumables, especially iodised salt and vegetable in Enugu. “We went to the villages to campaign against use of iodised salt to avoid diseases like goiter and use of vegetable fortified with Vitamin A. We are serious with it and we check on the companies unannounced to nip them in the bud”, he said.
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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