Tag: product

  • Firm to know fate on product counterfeiting

    Firm to know fate on product counterfeiting

    A Federal High Court sitting in Awka, Anambra will tomorrow deliver its ruling on an application filed by a manufacturer, Benjamin Nwizu , seeking to quash the charge preferred against him by the Federal Government for alleged product counterfeiting.

    Nwizu, who is the managing director of Bendusco Nigeria Limited, Onitsha, is being prosecuted before Justice I.B. Gafai on a four-count charge of manufacturing, storing and distribution of substandard tooth brush; breaking of seal order and non-compliance to regulatory standard of the Standards Organisation of Nigeria (SON).

    Nwizu was alleged to have committed the offence in October 2014.

    His counsel, Mr. Chuka Onyali, in the application filed on May 16, asked the court to quash the charge because it was an abuse of court processes.

    Onyali argued that the amended charge filed by the prosecution should be discountenanced as it is the same with the one already in process.

    But the prosecutor, Mr. Joseph Olofindare, argued that the charge was valid and that the application to quash it should be dismissed by the court.

    Following their submissions, the judge adjourned the matter till May 23, 2017 for ruling.

    Justice Gafai had granted him bail following his earlier remand in prison custody after his arraignment.

    The judge ordered Nwizu to produce a surety, who must not be lower than a Grade Level 8 Officer in the Anambra State Civil Service.

  • SON, product counterfeiters in battle of wits

    SON, product counterfeiters in battle of wits

    The Standard Organisation of Nigeria (SON) is not resting on its oars in its quest to rid the nation of substandard products judging by its relentless drive against fakers, reports Ibrahim Apekhade Yusuf

    There is no doubt that the Standard Organisation of Nigeria (SON) has recorded some modest successes in its fight against product counterfeiters. Despite some of its successes, it is not resting on its oars just yet. Little wonder, it has continued to take the battle to the doorstep of fakers.

    A case in point is the recent clampdown on eight blocks of flats in the Kirikiri area of Apapa, Lagos filled with expired products.

    The SON Director of Monitoring and Compliance, Bede Obayi, an engineer who led the operation and who later took journalists round the vicinity, said the agency swooped on the place based on intelligence report.

    “You can see the volume of expired products here and imagine the implication for our society in terms of health issues,” said Obayi, with an unmistaken apprehension in his voice.

    Raising some posers, he said: “When somebody buys expired cream, what does it show? You are applying cream that the active ingredient has gone and that may cause reactions on the skin. SON has discovered eight flats where expired products are repacked for sale.

    “More importantly, you are dealing with products that children use. Look at baby diapers that expired in 2015. Imagine what a product that expired in 2015 will do to a baby if used in 2017.”

    Obayi further observed the four-storey building of eight flats with the toilets, bathrooms and all available spaces were filled with expired products.

    “Look at this wrapper for disinfectant. What they do is to pick the expired ones and use this wrapper with new expiry dates to wrap it. When you have the old products inside this wrap that carries 2018 as expiry date, you will not know you are buying cloned products. The products have lost their active ingredients and efficacy,” the SON official lamented.

    Following a recent intelligence report the SON stormed a warehouse in Badagry Lagos, where substandard tyres valued at over N5b were stocked. Two Chinese nationals, Taolung Shen and Xu Jing Yau were arrested in the process.

    The suspects churned out the substandard tyres into the Nigerian market under brand names such as Powertrac, Aptany, Harmony, Duraturn, Bearway, City Tour, Winda, Glory, Chachland, City Grand, Grandsonte and Sunny.

    According to the SON, the suspects brought the substandard tyres into the country by stuffing them into one another.

    “Sometimes as many as five tyres were stuffed into one and the tyres have bent and ruptured in several places, thereby looking weak and slack.

    “But the Chinese adorned the tyres with new labels and shinny linings to create the impression of being new and healthy,” SON said.

    Some of the tyres found in the warehouse had post-dated manufacturing dates.

    For years, the country has been battling the spectre of substandard products, with many counterfeit and expired products finding their way into the nation’s market.

    This is even as report revealed that more than N5billion is lost annually to the substandard goods as the country is regarded as one of the biggest markets for fake goods.

    “The effect of these products on the country is devastating. Buildings have collapsed, so many lives have been lost due to consumption of fake and substandard products,” a visibly angry Obayi submitted.

    Between 2015 and 2016, states like Lagos recorded multiple incidences of building collapse, a development, many buildings and construction engineers blamed on the usage of substandard materials.

    While the challenge facing the SON is enormous, the recent mantra of the agency to consolidate on the gains made so far through effective engagement, monitoring and enforcement of the SON Amended Act 2015 seems to be yielding results judging by recent breakthroughs in the campaign against dangerous and unsafe products.

    Thankfully, since resumption of office as the Director General of SON, Osita Aboloma had said he would try to consolidate on the gains so far made by the agency.

    He had insisted that “when you adhere to standards, your products will be trusted and your businesses will grow.”

    SON, he said, would continue to propagate national and international standards through adoption and diligent implementation in both the public and private sectors.

    “To this end, we have over the years developed competencies in various international management system and standards. These include quality, environmental, food safety management, among others. All are aimed at national capacity development and certification of systems for continual improvement,” he said.

    The new vigour to enforce the SON mandate has indeed started yielding results.

    He said by stuffing the tyres into one another and conveying them through the sea from China to Lagos, the quality of the tyres had already been compromised.

    “The SON Directorate of Compliance intercepted one of their trucks on the highway, tracked and then confiscated it. “You can see the amount of danger that these people are posing to our people and our economy just because they want to make huge profits at the expense of the lives of Nigerians.

    “It is a clear case of investing millions in illicit business in order to destroy the lives of millions of Nigerians. If we allow something like this, it will amount to killing Nigerians,” Aboloma maintained.

    He said there would be no hiding place for people who deal in adulterated products in the country.

    Aboloma advised users of automobile tyres nationwide on the need to be extra-cautious when making purchases of such products. It is in the light of all these that the SON faces a herculean task although some analysts claim that it is to their credit that there is light at the end of the tunnel.

    Like an assiduous worker who has his hands on the plough, the SON DG has since constituted a steel monitoring task force to rid the market of substandard iron and steel materials.

    The agency believes that sanitising the iron and steel industry in Nigeria is key just it hopes that the rampant building collapse in the country which is as a result of substandard building materials will be a thing of the past.

    Aboloma noted that the agency while creating a conducive operating environment for steel production must also ensure that companies comply with the set standards.

     

  • FirstBank deepens SMEs product lines

    FirstBank deepens SMEs product lines

    First Bank of Nigeria Limited is demonstrating its commitment to the success of Small and Medium Enterprises (SMEs) by introducing array of products to the market.

    The bank has a cocktail of products and bespoke solutions, specifically designed to help grow SMEs and enable them play out their business scripts and fulfill their goals and aspirations.

    The lender offers advisory services that are tailored to meet the needs and aspirations of their SME customers.

    The Import and Export Finance is another product that helps the customer finance imports and exports as well as track all transactions. The Import Finance facility would provide a structured and controllable mechanism through which the bank may provide finance to trading companies to support the importation of goods.

    The lender also uses the Payments and Collections Solutions to facilitate effective money collection from distributors and customers of SMEs. With these solutions, third party payments can now be made with ease. The Key Distributorship Finance is another vital product designed to ensure that SMEs never run out of stock and timely execute customer orders.

    According to the FirstBank’s spokesperson, Folake Ani-Mumuney, the Bank is committed to supporting its customers with customised products and services designed to ensure a continuous success story for every SME.

  • KekeAds unveils new product for Smes, berths in Lagos

    An answer to the constant struggle by the Small and Medium Enterprises (SMEs) in Nigeria to grow their businesses is now available through a new option, the ‘KekeAds Find Us Noticeboard Advertising’.

    The advantage and higher recall rates of transit media are high compared to any traditional media. A focused research was carried out to highlight the effectiveness for small businesses wishing to reach various segments of the Nigerians.

    After developing the Keke Display system advertising media for big brands, where there is an option of advertising on the inside and outside placed panels, they have moved to developing the concept for the SMEs. The Find Us Noticeboard service allows a number of companies to share the passenger facing panels inside the tricycles. Up to 10 SMEs can optimally use a panel and have enough space to display their messages, addresses and contact numbers to passenger while they commute. The service is very cost effective and from as low as N500 per month, a company can reach an attentive audience.

    The benefits of this advertising, apart from the obvious attention that this media attracts, are many, and as up to 18,000 passenger interactions in a month can be encountered by a  Keke; it has a very low cost per eyeball ratio. It moves with the crowd, catering to a captive audience that has the time to digest and note the numbers of any business they find interesting. The media has immense potential of be used as an innovative form of classifieds advertising.

    The most common myth that many advertisers had with this media is the proof of its effectiveness.

    Head Marketing, Rikies Cakes, Mr. Sam Akubuine, says, ‘the management, apart from being averse to advertising on this media, doubted it would reach its target audience. For this, we tested this media with only 20 Kekes to do a sample study, to our surprise there were numerous calls from interested people which lead to an increase in our sales of birthday and wedding cakes. Such reach to the audience from such a low number of Kekes was totally unexpected and delightful at the same time‘.

    Facing the steep challenge of convincing the advertisers for this new media and its effectiveness, KekeAds has expanded its operations across all the state capitals through strategic alliances with franchise operators and agencies. The national roll-out, which kicked off in November, last year, is offering a special introductory offer to brands wishing to test the system. The Lagos leg of the roll-out will comes up next month.

    Marketing Manager, Mr. I. G. Nwachukwu, said: ‘’Nigeria is a vast market with millions of consumers on the road each day, most of the time stuck in traffic. Many times during the day, these consumers would be inside a Keke for long periods and would then be the best example of a captive, wide demographic audience who have no choice but to absorb the messages displayed in the backs of the Kekes.’’

  • SFH launches water purification product

    Society for Family Health (SFH) has launched WaterGuard Plus, a new point-of-use water purification product.

    WaterGuard Plus is a product that is strategically designed to address the need for clean water in a simple, easily usable format that makes water safe for drinking and, consequently, contributes to meeting key maternal and neo-natal health (MNCH) deliverables.

    The product is manufactured by one of the few World Health Organisation (WHO) pre-qualified manufacturers and is in powder form.

    Speaking at the launch event in Lagos, during the week, SFH Managing Director, Sir Bright Ekweremadu, said WaterGuard Plus meets all standards of quality and appropriateness for communities in Nigeria.

    While noting that it is easy to use, he said “The more stable powder formula makes it more suitable for our tropical climate and gives the product a longer shelf life, which encourages long term use.”

    Ekweremadu said WaterGuard Plus also kills 99.9 per cent of germs, and the durable packaging is conducive for transportation to both rural and urban areas. The product is also ideal for both personal and industrial use.

    He stated that WaterGuard Plus is a product that will plug in strategically to existing water, sanitation and hygiene programmes across Nigeria and will ensure that both rural and urban households have access to clean and safe water.

    “This will reduce the rates of diarrhoea related illnesses and deaths with the ripple effect of better school attendance for children who might have lost school days due to illness and parents who can have more productive days to pursue income generating activities thereby interrupting the circle of poverty,” Ekweremadu added

    Globally, diseases from unsafe water kill more people every year than all forms of violence, including war. Experts say that 43 per cent of these deaths are children under five years old. Also, over 88 per cent of diarrhoea cases in Nigeria are attributed to unsafe water and poor sanitation.

    In Nigeria, about 41 per cent of the population of 170 million people (approximately 70 million people) lack access to safe water. Unsafe water is a global public health threat, placing persons at risk of a host of diseases. Hygiene related diseases, such as cholera and diarrhoea are the cause of approximately 2,300 deaths per day, 2,195 of which are children. This number is more than deaths from AIDS, malaria, and measles combined.

    According to Ekweremadu, “Our ultimate long-term goal for establishing a sustained culture of clean water is for piped in water to be accessible to all people in all communities in Nigeria. He said there are several organisations carrying out on-going advocacy to the government in that regard.

    Society for Family Health Nigeria is a non-governmental non-profit organisations implementing programmes in maternal and child health, cervical cancer, reproductive health, family planning, malaria prevention and treatment and safe water systems.

    SFH’s programme strategy involves research, behaviour change communication and social marketing and targets the poor and vulnerable in hard-to-reach communities nationwide.

  • FriesladCampina unveils new product

    FriesladCampina unveils new product

    FrieslandCampina WAMCO Nigeria PLC has unveiled Peak Wazobia and  other low unit packs of Peak and Three Crowns evaporated and powdered milk.

    At the launch, the company said it was increasing consumers’ options of quality dairy products in line with its mission to nourish.

    Moreover, the initiative is to help manage malnutrition across the country. The products, it said, come at affordable prices and quality as the big size packs.

    WAMCO Managing Director Rahul Colaco said the company was a key player in feeding Nigerians appropriately with necessary nutrition. “For us, this is a privilege and a responsibility that we are fully committed to. Of course, this initiative is fully linked with the pillar of our mission statement which addresses issues of nutrient security,” he said.

    Colaco continued: “This pillar focuses on issues of malnutrition which is also a growing national concern. We believe that with daily consumption of milk through increased accessibility of quality dairy nutrition, consumers have the opportunity of getting up to 50 per cent of the nutrients that they require daily, which the body cannot make on its own.”

    A professor of community health nutrition at the Ladoke Akintola University of Technology (LAUTECH), Ogbomosho, Oyo State, Ebenezer Ojefitimi, said quality nutrition is necessary to prevent malnutrition across all life stages and economic groups.

    In his presentation, entitled: The Role of dairy in promoting nutrition: A public health perspective, he underscored the significance of dairy products, especially milk.

    According to the nutrition consultant, “dairy and its products should be endorsed as an integral component of healthy patterns”.

    He continued: “After all, they are nutritionally beneficial, environmentally sustainable, economically viable and culturally acceptable. Dairy and its products have the potential to assist us to achieve our number 4 and 5 MDGs.”

    The new ‘Peak Wazobia’, he said, was introduced to make ‘rich and creamy’ Peak evaporated milk accessible to Nigerians. “Whether we live in towns or villages, or we work in offices or study in schools, north or south, east or west, we all need complete and quality nutrition. That is the Wazobia story; accessibility to quality nutrition,” he said.

    With the unveiling, he said the company has presented a basket of low unit single serve packs at affordable prices. Besides, these small packs contain the same milk as the bigger packs and, as such, contain the same quality consumers expect.

    Other low unit portion packs are Three Crowns powder, Three Crowns evaporated milk in Sachet, Peak evaporated milk in sachet, Peak choco, Peak powdered milk, New Three Crowns LUPP, Peak wazobia LUPP and Peak fristi vanilla flavoured milk.

  • Fidson partners foreign firms on product marketing

    Fidson Healthcare Plc has partnered United States (US) firms – Immune Therapeutics, GB Pharma and American Hospitals & Resort (AHAR) – on the marketing and distribution of a new drug, LodonalTM.

    The drug is patent-protected because it is indicated for the management of patients with immune-compromising diseases.

    The deal will leverage Fidson’s strong and experienced marketing base, robust distribution channels and efficient customer and technical support services to promote the drug in Nigeria. The distribution will become effective, upon completion of the ongoing NAFDAC approved 90-day bridging trial evaluating the efficacy and safety of the product.

    Its Managing Director, Dr Fidelis Ayebae, said: “Fidson is truly excited about this collaboration with Immune Therapeutics and GB Pharma/AHAR. We know that success in this industry going into the future will be dependent on having the right partnerships, and we could not have asked for better partners at this stage of our growth. The international experience of Immune Therapeutics and GB Pharma/AHAR in different markets, and their strong commitment to research will be of immense benefit to our company. Likewise, Fidson’s towering presence in the Nigeria Pharma space will open a great door for the group to access one of the biggest and most rewarding markets in Africa.”

    This partnership is another strategic approach by the management of Fidson Healthcare Plc, to further strengthen the company’s growth. It also comes on the heels of the recent visit by President Muhammadu Buhari to the United States and President Barack Obama. The significance is monumental as a concrete symbol of US-Nigerian commerce in a non-oil/gas related sector and a show case for the future of local manufacturing of quality pharmaceuticals on the continent.

    President/Chief Executive Officer, GB Pharma, Dr. Gloria Herndon said: “This is the crescendo of a great masterpiece that partnership of GB Pharma, American Hospitals & Resorts, Immune Therapeutics, each with its distinct role. Fidson Healthcare markets and distributes throughout the extensive Nigerian Network. We feel that Nigeria and US bilateral relationship will benefit from this amazing initiative that will enhance the health and wellbeing of people all over the world. This is the spirit of collaboration that President Obama and President Buhari were talking about during the State visit.”

    Fidson Healthcare, which was recently recognised by Frost & Sullivan as the recipient of her ‘2014 Growth Excellence Leadership Award in the pharmaceutical industry, recorded sales of N9.7 billion in 2014 financial year.

    The award was in recognition of the company’s consistent performance in the pharmaceutical sector, which has seen its revenues rise at a 15 per cent CAGR over the last five years.

    The company has also won other corporate awards, including the Financial Standard ‘Pharmaceutical Sector Leader’ Award in 2008 and the ‘Nigerian Pharmaceutical Company of the Year’ at the Nigerian Healthcare Excellence Awards (NHEA) last year. Fidson’s definitive growth and consistent performance in the Nigerian stock market also earned her CEO the 2014 BusinessDay Top 25 CEOs Award, which the company has won consecutively for two years.

    To offer options in manufacturing and grow its product portflio, Fidson will inaugurate a N7.5 billion manufacturing plant this year. The new facility will double the company’s production capacity and will also for the first time, add intravenous fluids to Fidson’s product portfolio. The facility is built to conform to the World Health Organisation (Geneva)-Good Manufacturing Practice (WHO-GMP) standards.

    AHAR Chief Executive Officer, Dr Richard Afonja said: “We are well positioned to effect this novel approach to treating HIV/AIDS and other immune compromised diseases in the whole of Africa, starting with Nigeria. Bringing Fidson on board will enhance the facilitation of getting this much needed treatment approach for these conditions.”

    To achieve her strategic imperative of improving her products and consolidate her market position, Fidson has continued to invest in research and development across various disease areas. This has seen her record a number of firsts, key among which was becoming the first company in sub-Saharan Africa to manufacture antiretroviral drugs in 2005.

    The company has over 200 products across several therapeutic classes, which cut across anti-infectives, gastrointestinal, antiretroviral, anti-malarial, cardiovascular, analgesic, haematinics and supplements.

  • GTI Securities unveils new investment product

    GTI Securities Limited, a member of the Nigerian Stock Exchange (NSE), has launched a new investment product that would help individual and institutional investors to grow their assets without undergoing the stress of the market risks. GTI Securities Limited is the owner of Sub-Sahara Africa’s first private trading floor.

    In a statement at the weekend, GTI Securities, a subsidiary of GTI Capital Group, stated that the new investment product, known as GTI Discretionary Portfolio Asset Management Service (D-PAMS), is designed for busy investors who do not have the time to monitor daily market activities or investors who do not have the expertise to handle stock analysis and appropriate stock picks with good fundamentals for profitability and growth.

    The firm stated that institutional and high net-worth individual investors would benefit from expert financial assets management citing its pedigree in successfully managing funds and investment portfolios of clients to achieve set objectives with optimum return in relation to clients’ risk tolerance level.

    “The D-PAMS is one of the latest initiatives of GTI Securities to help our clients and the investing public take advantage of the potentials inherent in our capital market; a portfolio manager is assigned to your portfolio for the sole purpose of value creation,” the firm stated.

    The firm assured the investing public that it would continue to improve on its bespoke services to cater for the needs of the investing public.

    According to the company, part of its value-added investment services included improved research reports, which provide daily market insights and regular business and economic news, stock analysis and recommendations and sectoral reports which give clients insights into the various sectors of the economy and assist them in making informed investment decisions.

    “We also offer free investment advisory. As a valued client, we will be willing to meet with you, at any point in time, to plan your investment portfolio across various assets classes based on your needs and in line with your investment objectives. We will also from time to time, be contacting you on your investment portfolio, to ensure proper re-alignment for improved profitability,” the firm stated.

     

  • Investment One re-launches savings product

    Investment One Financial Services Limited has re-launched  ‘myPASS’, one of its investment products designed to cater for the retail segment of the market.

    ‘myPASS’, the acronym for ‘My Project Aimed Savings’, is a product aimed at individuals and groups seeking higher returns on their savings and investments without taking risks on their principal.

    In a statement, Investment One stated that the product was also designed for individuals or groups looking to save towards achieving certain project goals which include mortgage payments, asset acquisition and funding educational pursuits among others.

    According to the company, research results had shown a gap in the market for project-aimed investment products which necessitated the development of the product. The research also showed that busy professionals and business owners are preoccupied with various activities and have limited time dedicated to proper investment and financial planning.

    The company stated that the product was re-launched to further create awareness of the benefits of the product to the retail segment of the market in order to partner with them to meet their various goals including owning homes, successful completion of their wards’ educational pursuits and purchase of various equipments to ease life and business.

    The statement noted that ‘myPASS’ could also be used to make periodic payments such as house rent, school fees and professional examination fees.

    “’myPASS’ product is designed to fit various categories of individuals and groups with varying degrees of disposable income in order to meet the specific circumstances of customers which informed the creation of three variants of the product namely ; ‘myPASS Orange’, ‘myPASS Silver’ and ‘myPASS Gold’,” the company stated.

    ‘myPASS’ is part of the bouquet of products of Investment One Funds Management Limited (IOFML), a fully-owned funds and portfolio management subsidiary of Investment One Financial Services Limited. Investment One Financial Services Limited, which is licensed by the Securities and Exchange Commission (SEC), also has subsidiaries which provide trust services, securities brokerage, pensions and financial advisory services to individual and corporate clients.

     

  • P&G launches product

    Procter and Gamble has  launched its newly improved Pampers Baby-Dry into the market.

    At the launch at Agbara in Ogun State, Christofer Fuchs, its Associate Director R&D Baby Care Europe Middle East and Africa, said the firm is committed to the healthy development of babies.

    “Our newly improved Pampers diaper is borne out of extensive research and development, consumer studies and continuous feedback from consumers. We do this to ensure premium comfort for our babies and consequently contribute to the happy and healthy development of babies.