Business
Fake Products Crusade: SON To Recruit 5 million Nigerians
The Standards
Organisation of Nigeria (SON) said that it would recruit five million Nigerians into its newly inaugurated national coalition against fake products.
The Director-General of the organisation, Dr Joseph Odumodu, said this in Ibadan on Tuesday at an enlightenment programme tagged: “Zero Tolerance Against Substandard Products.”
He said the recruitment exercise would boost the on-going war against the production of fake and substandard products in the country.
Odumodu also said the organisation had appointed the Sultan of Sokoto, Alhaji Sa’ad Abubakar, as its ambassador in the country.
“We have already formed a national coalition. Indeed, our plan is to recruit up to five million Nigerians who are going to be part of this crusade.
“We believe that five million people are a critical mass that we will use to sustain this campaign to a level that it would be impossible for people to bring substandard products into Nigeria,” he said.
He said that the aim of the awareness campaign was to focus on life endangering items such as tyres, cement and electrical products.
“We are having the campaign to sensitise people on the need to be aware of fake products that could cost them their lives.
“We believe that any fake or substandard product among these items can directly lead to a loss of life,” Odumodu said.
To achieve its mandate, Odumodu said SON would collaborate with some government agencies.
“We believe that by working together, we will be able to achieve the set mandate,” he said.
He, however, called on the public to support the organisation in reducing fake and substandard products in the country.
Odumodu, who said the campaign would be taken to all the geo-political zones of the country, added:
“Our team had earlier visited the South-South and the North-West Zones to campaign against fake and substandard products.
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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