Business
Association Faults SON’s Product Assessment
The National Associa
tion of Government Approved Freight Forwarders (NAGFF) has faulted the Standard Organisation of Nigeria (SON) assessment of products across the country.
Speaking to The Tide in Port Harcourt on Friday, the Association President, Chief Eugene Nweke, said it was wrong for the organisation to be the sole regulatory agency of quality products manufactured in the country or imported into the country.
Nweke said that SON lacks the necessary competence as a government agency to assess the quality of goods produced in Nigeria, stressing that the monopoly enjoyed by the organisation called for a review by the stakeholders in the manufacturing sector.
He said there is need for independent product conformity assessment bodies, to be also known as accreditors as well as SON, adding that the independent creditors are professional bodies or associations of industries in the private sector out to assist SON on assessment of quality products.
The Association’s President said that the proposed accreditors are a necessity against the backdrop that the trading and consuming public seems to have lost confidence in SON’s conformity Assessment Programme initiative and the Mandatory Conformity Assessment Programme (MAINCAP).
He also faulted SON’s process of conformity assurance system, stressing that the system called to question the competence of SON as products regulatory agency.
Nweke said most products in Nigeria’s market bearing SON’s approved mark are sub standard products that have failed the national standisation approval, stressing that it is the right and duty of national legislation to accredit standisation body acting naturally on products approval.
He said the aim of product testing and certification was to evaluate the quality of the product itself stressing that the assurance system by professional body was to assure the public that the manufacturer of such product has a viable and effective system that is capable of producing product with national standard.
He urged support to ensure that manufactured products in Nigeria or imported goods meet the national standard as he said, standards depend greatly on the level of confidence reposed by the public in the manufacturer of such product.
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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