Business
CPC Makes Inquiry Into Blue Band Product
The Consumer Protection Council (CPC) says it has opened an inquiry into aspects of Blue Band products.
It stated that the inquiry would determine product safety and clarify some aspects of the manufacturer’s statements on Blue Band “Spread for Bread”.
The CPC Director General, Mr Babatunde Irukera, said this in a statement issued by the organisation on Sunday in Abuja,
He said that the purpose of the inquiry was to ensure that the products, differentiated or otherwise, were safe and subjected to proper processes and “in-trade” handling consistent with the different properties and characteristics of each product.
This is in reaction to a short demonstration video on social media showing how Blue Band “Spread for Bread” reacts under certain heat conditions.
He said that the video or the impression it conveyed had become the subject of anxiety and intense controversy.
“It suggests that the product, which the narrator considers a functional equivalent of “Blue Band Original”, is unsafe because when subjected to high temperature in boiling water, it did not melt or dissolve.
“Available scientific information confirms that though butter, margarine and spread appear similar and share similar components, in characteristics and uses, they are different products available to consumers.
“Butter and margarine share a particular similar characteristic, low resistance to heat, and as such both are likely to melt when subjected to certain levels of heat.”
Irukera, however, said that spreads had varying heat resistance, depending on intended use and production process.
He said that as a result, it could not be necessarily unsafe that a spread does not melt under similar heat conditions as butter or margarine.
He said spreads were produced in part by adding emulsifiers which we’re additives used in stabilizing and binding processed foods.
“They are not inherently unsafe or uncommon. The specific emulsifying agent and amount used largely depends on many factors including shelf life, storage, handling and climatic conditions in order to prevent microbial activity.”
Irukera said that the manufacturer of the product had made a statement seeking to address public concern by differentiating its products and explaining the purposes of the two different products.
Business
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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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