Business
NAFDAC Arrests Cloning Syndicate’s Leader
The National Agency for Food, Drug Administration and Control (NAFDAC), said it has arrested a suspected leader of a drug cloning syndicate in Lagos.
Mr. Garba Macdonald, NAFDAC Director of Enforcement, told newsmen in Lagos that the suspect was arrested in his house at Orile-Iganmu with various fake drugs worth over N20 million.
Macdonald said that the syndicate specialised “in cloning several fast moving drug products, including locally manufactured anti-malaria and pain relieving medicines”.
He said that the syndicate had perfected its cloning act in China and, thereafter, imported the cloned drugs into the country.
Macdonald said that the suspect had been placed under NAFDAC’s watch list of fake drugs importers for about two years.
He said the agency had begun investigations to unravel his China-based partners.
The NAFDAC official said that the agency was determined to take advantage of its collaboration with the Chinese Government in the fight against fake drugs.
Macdonald said that every offender would be punished according to his/her country’s drug counterfeiting laws.
He said that arrest of the suspect was “a major breakthrough in the fight to stem the activities of the syndicate’’.
According to him, through intelligence gathering, it was established that the suspect used his house as a warehouse where the cloned drugs were stored.
“Some of the drugs discovered in his possession at the time of arrest were Coartem tablets, Amalar tablets, some unlabeled tablets, Maloxine tablets, Ibuprofen tablets, packaging materials, leaflets and hand sealing machines.”
He noted that the syndicate was currently assisting the agency in its investigation to get to the root of the matter.
Macdonald called on Nigerians to report any suspicious activity relating to NAFDAC regulated products around their communities for immediate action.
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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