Business
NAFDAC Destroys N650m Counterfeit Goods In Kaduna
The National Agency for Food and Drugs Administration and Control (NAFDAC) has destroyed fake, counterfeit, sub-standard and expired drugs worth N650 million in Kaduna.
The Director-General of the agency, Prof. Christiana Adeyeye said at the destruction site in Buruku, Kaduna State, that the products were substandard, falsely labelled medicines, unwholesome food products and cosmetics.
Others were counterfeited unsafe NAFDAC regulated products by the agency from manufacturers, importers and distributors. Represented by the North West Zonal Coordinator of the agency, Mr Gimba Dauda, she said the exercise was part of efforts to stop spurious NAFDAC regulated products from circulation in Nigeria.
“The products being destroyed today are made of substandard and falsely labelled medicines, unwholesome food products, cosmetics and other counterfeited products.
“Drug counterfeiting is an act of economic sabotage and also terrorism against public health,’’ the director-general said. Commending the Federal Government for banning the use of codeine syrup, Adeyeye said:
“The decision is to ensuring the reduction in the abuse of the substance. “We have continued to aggressively pursue the goal that only genuine medicines and wholesome foods of the right qualities are imported, exported, manufactured and distributed.
“We commend President Muhammadu Buhari for re-instating NAFDAC personnel to our ports of entry and borders.”
She noted that the relentless effort of the Federal Government was helping in the increased seizures of counterfeited and substandard NAFDAC regulated products smuggled through the land borders. She said that NAFDAC has deepened its collaboration with agencies of government and stakeholders to end the spread of fake and counterfeited drugs in Nigeria.
Part of the drugs, food, cosmetics and chemical destroyed included antibiotics, antimalarial, anti-hypertensive, anti-cancer, herbal remedies and controlled substances. Others were Mom’s tomato paste, non-alcoholic beverages, maize flour, Eva complexion soap, hair cream and fake insecticides.
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.
Business
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