Business
Guinness Drags NAFDAC to court over #1bn fine, Court adjourns case to Feb. 8
Justice Wasiu Animahun of a Lagos High Court sitting in Igbosere has adjourned the suit filed by Guinness Nigeria Plc, against the National Agency for Food and Drug Administration and Control (NAFDAC) to February 8, 2016 to enable parties meet for amicable resolution of the dispute.
Justice Animahun adjourned the suit yesterday after listening to submissions of counsel to both parties.
NAFDAC had imposed a N1 billion fine on Guinness “as administrative charges for various clandestine violations of NAFDAC rules, regulations and enactments over a long period of time”.
The agency had in a letter addressed to the Managing Director of Guinness Nigeria Plc, Peter Ndegwa, by the Head, Investigation and Enforcement of NAFDAC, Kingsley Ejiofor, demanding for the payment of the N1 billion as administrative charges for infractions such as the destruction activities carried out by the company without the authorisation and supervision of the agency.
Guinness was also accused by the agency of revalidating expired products without authorisation and supervision by NAFDAC, as well as failing to secure the gate of its warehouse as the raw materials used in the production of beer and non-alcoholic beverages by the firm were permanently opened to intrusion and exposure to the elements and rodents, which “invariably affect the integrity of the raw materials”.
NAFDAC also alleged that Guinness maintained poor documentation of record and not complying with conditions contained in the certificate of validation of the revalidated malt extract, which required the storage of the items in cool and dry place and elimination of exposure to sunlight.
Guinness, dissatisfied with the N1 billion fine, dragged the agency to court urging it to restrain NAFDAC and the Attorney-General of the Federation from enforcing the sanction pending the determination of the suit.
When the suit came up yesterday for mention, counsel to Guinness Plc, Mr. Olasupo Shasore, told the court that representatives of Guinness Plc and that of NAFDAC were meeting on the sanction imposed on the company, adding that he was hopeful the matter would be resolved.
NAFDAC’s lawyer, Mr. O M Abutu also informed the court that the parties met on December 21 but that he was not privy to what actually transpired at the meeting.
He said “I confirm that the applicant, Guinness, met with the NAFDAC yesterday, but I was not part of the meeting and I have not been briefed about its outcome .”
Abutu urged the court to adjourn the matter to enable the agency reply to the originating process filed by Guinness and for possible out of court settlement of the matter.
The company urged the court to declare that the fine imposed by NAFDAC violated its right to fair hearing as guaranteed under section 36 (1) of the Constitution.
Justice Animahun had in a ruling delivered on December 14 restrained NAFDAC from enforcing the N1 billion fine pending the hearing and determination of the suit.
However, the case was adjourned to February 8 for mention.
Business
PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.
UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.
In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.
Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.
We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.
Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.
Thank you.
Business
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”
Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.
The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.
This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.
Speaking on the collaboration, the Laffmattazz team stated:
“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”
As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.
With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.
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About Laffmattazz
Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.
About First Bank of Nigeria Limited
First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.
Business
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.
Now, FirstBank is making homeownership more attractive.
FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.
The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.
You are one quick decision away from being a landlord.
If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.
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