Daily Archives: March 17, 2017

Health Ministry wades into NBC – Fanta, Sprite controversy; constitutes panel to investigate claims

The Federal Ministry of Health said on Thursday it has set up a panel of experts to investigate the fallout from the recent Lagos High Court ruling concerning the level of benzoic and ascorbic acid in soft drinks produced in the country by the Nigerian Bottling Company (“NBC”).

Guinness Nigeria seeks NSE approval for share sale

Guinness Nigeria Plc, said on Wednesday it had sought approval from the Nigerian Stock Exchange (NSE) for a new share sale which it hopes would raise N39.77bn ($130m).

The company which has posted back-to-back losses in the last three quarters said it would issue the shares to existing shareholders at N58 per share, which represents a 17% discount on Wednesday’s closing of N70 per share. Existing shareholders would be offered five new shares for every 11 held as of Wednesday closing.

CPC opens investigation on NBC – Fanta, Sprite Court ruling

The Consumer Protection Council (“CPC”) on Thursday said it had opened an investigation on the recent court ruling regarding Fanta and Sprite, products of Nigerian Bottling Company (“NBC”).

The Director-General of CPC, Mrs. Dupe Atoki, said it had written a letter to NBC summoning it to provide the agency detailed information about the composition and all laboratory tests of the two products – Fanta and Sprite, covering the last 10 years between 2008 and March 2017.

NBC tries to ease public concern over use of Benzoic and Ascorbic Acid in Soft drinks

Nigerian Bottling Company (“NBC”) released a statement on Thursday to ease public fears over its use of benzoic and ascorbic acids in the production of Fanta and Sprite.

The announcement comes on the heels of a Lagos High Court ruling which ordered the National Agency for Food and drug Administration and Control (NAFDAC) to compel the NBC to include health warning on its drink labels cautioning consumers on the dangers of taking Vitamin C with either Fanta or Sprite as the combination becomes poisonous.