News
SON Mulls Electronic Code for all Products

Standard Organisation of Nigeria (Son) is to embark on electronic product registration in Nigeria meaning that all products in the Nigeria market will be expected to have electronic registration code for easy identification of both the manufacturer as well as the importer.
Dr. Joseph Odumodu, director general, said that any product that does not carry Son electronic code by May 2013 will be removed from the market and destroyed.
“Every product in Nigeria market is expected to bee documented. We must know who the manufacturers are, who imported the products and the relationship between the importer and the manufacturer” Odumodu said
“We have completed the first 50% of the tenure of this current Director General and to examine what has been achieved, we set to access our performance and improving on the weakness so far.
One point I would like to stress in talking about 2013, is that we need to change our strategy and we would do most of the things we did last year, but some additional things would be included and I will explain why we have to do them. We have to do them for sustainability, to also connect to the world.
“When I started this job, we all focused on the prevalence of substandard products in Nigeria and the challenge of standardization is that it is measured in terms of the prevalence of substandard product. It is an outcome of a failed system or a non-existed system that leads us to what is currently happening now.
“What I have done in the last two years is to try to beat down the symptoms which are the level of literacy on the consumers in Nigeria and the prevalence of substandard product and every time you force that, The challenge we have in Nigeria is that we don’t have what we call a national quality Policy, and one of the thing we must do this year is to promote and push for a Nation Quality Policy and it is going to go the whole process to the top approval up to the President of the Republic of Nigeria. And that will lead us to identify to what is known as National Quality Infrastructure.
News
DBN Awards N13m in Grants to Tech Startups

Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).
The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million
Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.
The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.
In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN, described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.
“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”
Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.
He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.
Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”
A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.
The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.
Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”
News
FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations

In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.
The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.
Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”
Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.
TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.
Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.
News
How and Why N210 Trillion is Missing in NNPCL – CFO

Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
- General News2 days ago
NASRDA, Galaxy Space Firm Sign MoU on Satellite Connectivity
- Telecom2 days ago
Over 1m Nigerians Reached through MTN Staff’s Digital and Community Outreach
- Telecom2 days ago
Mafab Gets 0724 Number Series, Launches Mcom 5G Brand
- News2 days ago
DBN Awards N13m in Grants to Tech Startups
- News2 days ago
FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations
- News3 days ago
How and Why N210 Trillion is Missing in NNPCL – CFO
- General News3 days ago
IHS Nigeria, United Nations Global Compact Host High-Level Dialogue on Sustainability and Greener Business Practices in Nigeria
- Telecom2 days ago
NCC to Name, Shame Telecom Infrastructure Vandals