Business
SON Shuts 15 Companies, Certifies 100 Others In Rivers
Standard Organisation of Nigeria (SON) has shut fifteen companies producing water, and certified over 100 manufacturing companies in Rivers State.
Making this known recently in an interview with newsmen in Port Harcourt, the State Coordinator of SON, Samuel Ayuba, said the companies were basically shut because of the unhygienic environment in which they carried out their work, and the low standard of their materials.
The Coordinator warned that SON will not spare any company or individual that throws caution to the winds by lowering standards in the course of production, which could endanger the lives of citizens.
He urged the public to always report to SON anybody or company involved in such illicit business through text messages, calls or coming directly to the agency, assuring that prompt attention will be given to such information.
Alternatively, he said, people can visit the SON’s website, where toll-free telephone numbers are provided, to make their complaints.
“SON as a Federal Governnment Agency, is charged with the responsibility of enforcing standards and is poised to discharg its statutory responsibility.
“Just give us the information and watch what we are going to do with it. I assure you that the SON, Rivers State Branch, is a force to reckon with and will at all times ensure that only products of high quality are supplied to the markets, warehouses and shops in Rivers State. The idea is to ensure that people have value for their money,” the Coordinator said.
Ayuba stated further that the Rivers State branch of SON under his watch certified about 100 companies that satisfied the laid down requirements for standards in their production for such operations.
He acknowledged the fact that COVID-19 affected activities in all spheres of the economy nationally and even globally, adding that his branch successfully discharged its duties appropriately.
The SON helmsman said they also conducted market surveillance to ascertain the quality of products that are sold to the public.
According to him, they addressed a lot of consumer complaints within the period under review and the products were in most cases replaced to the satisfaction of the customers and sellers.
He urged consumers not to hesitate in reporting to SON any case of either forging their products or his Agency’s approvals, saying that the Director General (DG) of SON, Mallam Salim Farouk, is passionate about prosecuting offenders of substandard products, noting that some have been remanded in prisons across the country.
Ayuba identified limited resources and attitude of the people in cooperating with the SON towards maintaining standards in the country as major challenges confronting his Agency.
Commenting on the level of sensitisation of the people on the functions of SON, the Coordinator said the Organisation runs a regular sensitisation programme on television, print and even public enlightenment campaigns, stressing that SON is a housewhole name in standards enforcement in Nigeria.
He called on Nigerians to partner with *the Agency by reporting or complainin where things are going around them”.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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