Business
Our Operations’II Not Hinder SMEs Growth – NAFDAC
The National Agency for Food and Drug Administration and Control (NAFDAC) says its operations will not hinder the certification and acceptability of Small and Medium-scale Enterprises (SMEs) products.
NAFDAC Chief Public Relations Officer, Mrs Christiana Obiazikwor, told newsmen in Lagos that many SMEs believed that the agency was trying to frustrate them out of business.
Obiazikwor said, “These producers say our conditions are too stringent, and they tagged us as a major hindrance to getting their products certified and globally acceptable.
“This is untrue. People who have not even approached the agency for anything already have an opinion about it based on what others have said.
“We have to be strict to ensure compliance. It is imperative to know that the high volume of unregistered foods will limit our chances of exporting our God-given products.
“Our duty is not just to shut down erring companies or arrest unregistered food and drug ventures, but to also guide and put them through on how to start or continue in a bigger way.’’
She advised intending manufacturers to come forward for advice and guidance to avoid making mistakes in their businesses.
Obiazikwor said that the agency was shouldered with the responsibility of protecting businesses and citizens, considering the large volume of imported products flooding the nation’s markets.
“We need to state categorically that one of our core mandates is to help push out our locally produced foods and drugs.
“These products, however, need to be certified, they need to go through our laboratories before getting to the world.
“One of our major challenges is that many manufacturers of food and drug products refused to show up for testing of their products.
“Even, when they show up, once they are briefed on the steps to take, they get scared and do not pursue their certification to its logical conclusion,’’ the NAFDAC chief said.
Obiazikwor said that the agency has provision for cottage production, otherwise known as “kitchen production’’ for micro-entrepreneurs to be registered with some waivers and considerations.
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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