Business
Acting Director Wants SON Back To Seaports
Following the influx of
sub-standard goods into the country through the seaports, the Federal Government has been called upon to return the Standard Organisation of Nigeria (SON) to the seaports.
The Acting Director-General of SON, Paul Angya, made the call at a Maritime Stakeholders’ forum in Lagos, recently.
Angya said the increased importation of sub standard goods into the country is alarming, hence the need for SON officials to be at the Port, stressing that it would go a long way in minimising the ugly trend.
He disclosed that the Minister of Trade and investment, Okechukwu Enelemah has directed the agency to work towards reducing the influx of substandard products into the country.
“The problem of substandard products is so alarming that it is diverting government priority from present challenges and there is need to stem the tide and the only way to do that is to speak the truth to ourselves,” he opined.
The Acting Director noted that as importers have abused the SON Conformity Assessment Programme (SONCAP) certificate programme put in place to regularise goods imported, pointing out that from July 2016, any importer who imports without SON CAP certificate would be charged a fine of 20 per cent of the value of the goods imported.
He warned that even when the goods have been cleared by the importer, SON would go after such goods, destroy it and charge the importer for the destruction.
“All stakeholders involved in the importation of SON regulated products should go back to certifying their products offshore before bringing them in.
“The SONCAP certification of your product before imports has advantage for your business and the national economy at large.
“You are assured of the quality of the goods you are importing and you will also give the consumers of your goods value for their money,” Angya posited.
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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