Monthly Archives: December 2016

Police arrest producer of counterfeit alcoholic spirits in Warri

The Delta State Police Command said it has apprehended a 39-year old man, Ugochukwu Alozie, who runs a shop where counterfeit alcohol spirits, including Red Label are produced in the Warri area of the state.

France’s Lactalis seeks buyout of Parmalat

French dairy group Lactalis, the world’s largest dairy firm announced on Tuesday it was seeking a buyout offer for remaining shares of Italian dairy firm Parmalat for which it does not already own. Lactalis controls 83.3% of Parmalat and is seeking to acquire additional 12.26% shares, according to a statement released by Sofil – the invest arm of the Besnier family that owns Lactalis.

Retailers of imported fruit juices come under increased pressure as NAFDAC enforcement spreads nationwide

Distributors and retailers of foreign made fruit juices are feeling more heat as the National Agency for Food and Drug Administration and Control (NAFDAC) spreads its enforcement tentacles across the country to remove the prohibited items from the markets.

Guinness Nigeria seeks N40bn rights issue to pay down debts

Guinness Nigeria Plc said it plans to hold an Extraordinary General Meeting (EGM) of its shareholders in Lagos on January 24th 2017 to approve resolutions for a N40bn rights issue.

According to a statement released by the company, it believes the rights issue will allow it optimize its balance sheet, while improving its financial and operational flexibility.

NSE lauds Nigerian Breweries for high corporate compliance

The Nigerian Stock Exchange (NSE) has applauded Nigerian Breweries Plc for maintaining a high compliance of good corporate governance standards.

This was communicated by the Chief Executive Officer of the NSE, Mr. Oscar Onyema to the management of Nigerian Breweries on a recent visit by the company to the Stock Exchange. He also congratulated the brewing company on its 70th anniversary and for emerging the Most Compliant Listed Company for the year. Onyema said that Nigerian Breweries is a good corporate citizen who has shown good examples to other listed companies on the Exchange.

Fire breaks out at Nigerian Breweries headquarters in Iganmu, Lagos

An early morning fire on Christmas Day has engulfed the headquarters of Nigerian Breweries Plc in the Iganmu area of Lagos.

The Lagos State fire service is said to have arrived at the scene to contain the inferno.

According to officials of the National Emergency Management Agency (NEMA), the fire started around 5:30AM on Sunday.

Consumer Protection Council seeks Anti-Monopoly law

The Consumer Protection Council (CPC) is said to be leading other stakeholders in seeing that a Federal Competition and Consumer Protection bill currently in the National Assembly is passed.

According to the bill sponsors, the bill when signed into law will guaranty that consumers are protected from monopoly and cartel in the production of goods and services.

NAFDAC declares war on fruit juice importers, retailers; raids shops in Kaduna, Onitsha

The National Agency for Food and Drug Administration and Control (NAFDAC) on Friday moved against importers and retailers of fruit juices in what the agency called a “mop-up” exercise of foreign banned juices in the country.

In Kaduna State, where the exercise was in full-swing, the agency’s Coordinator for the state, Mr. Natim Mullah-Dadi, said that the exercise was as a result of Federal Government import prohibition list with emphasis on super and central markets in the state.

Sachet water producers’ balk at illegal fees

Producers of sachet water, also known as ‘Pure water’ in Lagos State are presently embroiled with the Lagos State Water Regulatory Commission (LSWRC) over a newly introduced collection of all water related fees by the agency.

A spokesperson for the Association of Table Water Producers (ATWAP) in the state accused the Executive Secretary of the Commission, Mr. Ahmed Abdullahi of allegedly diverting hundreds of millions of naira paid to the state into a private account owned by ‘Expanse Resources Consulting Limited’.

FrieslandCampina WAMCO MD, Colaco takes up new assignment in China

The Managing Director, FrieslandCampina WAMCO Nigeria Plc, Rahul Colaco, has been appointed Executive Director of the Business Group Consumer Products China effective from 1 January 2017.

He will report to Roelof Joosten, Global CEO, Royal FrieslandCampina, The Netherlands, and he will be located in Shanghai, China.

Colaco will take over the responsibility for the Business Group Consumer Products China from Hein Schumacher, Chief Financial Officer, who is currently fulfilling the role on an interim basis.