Business
Freight Forwarders Question SON’s Competence
Freight forwarders in
the country have questioned the competence of the Standard Organisation of Nigeria (SON) in the assessment of goods produced in Nigeria or imported into the country.
The freight forwarders under the aegis of the National Association of Government Approved Freight Forwarders (NAGAFF) said it was wrong for SON to be the sole organization regulating the quality of products manufactured in Nigeria or imported into the country.
National President, NAGAFF, Chief Eugene Nweke told newsmen in Lagos that SON’s competence need to be questioned and the monopoly it enjoys in the execution of its briefs.
“There is need for independent product conformity assessment bodies, also known as accreditors. These are professional bodies or associations in industries in the private sector,” he said.
According to him, the proposed accreditors were a necessity against the backdrop that the trading and consuming public seems to have lost confidence in SON’s Conformity Assessment Programme (SONCAP) and the Mandatory Conformity Assessment Programme (MANCAP), SON’s conformity assurance system called to question the organization’s competence.
He said,” this is because most products bearing SONCAP/MANCAP certification littering the market, are obviously substandard products failing the national standardization.
It is the right and duty of national legislation to accredit standardization body acting naturally with it. Recall that product testing and certification is aimed at evaluating the quality of the product itself.
The NAGAFF President said the assurance system by a professional body is aimed at assuring the purchaser that the manufacture of such product has in place a viable and effective system that is capable of producing product of consistent quality with little or no variation.
He noted that, ideally, the trading public relies on the manufacturer’s declaration that the product so purchased meets standard.
Mr Nweke said that the relevance of standardization could be over-emphasised because standards depend greatly on the level of confidence reposed in the manufacturer’s statement that the product meets a particular standard by the trader.
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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