Business
‘SON, Still Effective Outside Ports’
Director-General, Standards Organisation of Nigeria (SON), Dr Joseph Odumodu said that to deal with suspicious cargoes, it was better for the organisation to work within the vicinity of the ports.
Odumodu made this known when he fielded questions from newsmen in Abuja, recently.
Reports say that the Federal Government recently reduced the number of agencies operating within the ports from 14 to eight under its ports reform agenda.
SON was among agencies not listed to continue to operate within the ports, but could operate there on invitation.
“The ejection of SON is a government decision and I am aware that government must have taken that decision in the best interest of Nigerians.
“However, we are the operators and we are aware that it will better for us to deal with suspicious cargo within the vicinity of the ports than outside of the ports.
“All we have done now is that we have changed our strategy; in fact sometimes we station our people outside of the ports and when those containers come out, we pick them up and ask for details; the only challenge is logistics.’’
Odumodu said that SON needed more money and people to be able to police the markets and warehouses, stressing that monitoring was easier when those to be monitored were grouped together or were in clusters than if they were dispersed all over the country.
He added that SON had made a case to government and that “at the right time, I believe the decision will be made in the best interest of the country’’.
Commenting on manufacturers’ performance, he said that in the next five years to six years, Nigerian products would constitute at least half of consumer’s products in the country’s markets.
“Ultimately, one of the measures for our performance is that within the next five or six years, made-in-Nigeria products will constitute at least half of our consumer products.
“Because, I can tell you and am very proud to say that Nigerian manufacturers are meeting all the minimum standards; most of them are meeting the minimum standard of the Nigeria Industrial Standards (NIS).
“If we are able to support them to increase their outputs, then we will already be solving the problems that we currently involved in.
“And in addition to that, if we increase their outputs, they will increase their capacities, they will employ more Nigerians; they will pay more tax.’’
Odumodu said current development in the manufacturing sector in the area of producing quality goods was in consonance with President Goodluck Jonathan’s transformation agenda, job creation and Economic development.
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.
