A Federal High Court in Abuja has fixed November
4 for the arraignment of the Nigerian Bottling
Company Limited, Coca-Cola Nigeria Limited and
their Chief Executives for criminal breach of the
Consumer Protection Council Act.
The Global soft drink giant, Coca Cola Nigeria
Limited, and its Nigeria franchise bottler, Nigeria
Bottling Company Limited, are currently facing
prosecution for allegedly violating the orders of the
Council, which were given to ensure compliance
with laid down safety standards and regulations
and enhanced consumers’ welfare.
This is coming as a result of the finding of an administrative panel set up to investigate a consumer complaint regarding two half-empty cans of Sprite manufactured by Nigerian Bottling Company (NBC) Limited under the licence and authority of Coca Cola Nigeria Limited found them culpable.
If found guilty, the Chief Executive Officers of both companies risk a jail sentence, ranging from three to five years, according to the Nigeria Consumer Protection Council Act
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Friday, October 31, 2014
FG vs Coca Cola, NBC: Court fixes Nov.4 for hearing
DEFECTION TO PDP: LP gives governor Mimiko 21 day ultimatum to resign
The National Working Committee, NWC, of the
Labour Party, LP, on Wednesday told Governor of
Ondo State, Olusegun Mimiko to respect
constitution of the party and resign from office
within 21 days.
It would be recalled that Mimiko was elected into
office as an LP candidate but recently dumped the
party for the Peoples Democratic Party, PDP.
The NWC of the Labour Party gave the ultimatum
after a meeting in Abuja.
The position of the LP was contained in a statement
issued by its National Publicity Secretary, Ikpe
Etokudo.
It reads: “The NWC came to the inevitable
conclusion that the constitution of the republic and
provision of relevant section of the electoral laws
must be respected by Dr. Olusegun Mimiko and his
new party – the PDP. “The case of Dr. Boroffice
who was elected as a Senator on the platform of our party but defected to the All Progressives Congress (APC) was cited. The
NWC reminded Dr. Mimiko that he was so incensed by Boroffice’s action that
he advised the party to approached the court for justice. The NWC warned all those concerned to take the
path of honour immediately or should expect to defend their deliberate raping of the constitution of the country within next 21 days in court as well as be ready to face the wrath of workers of Ondo State in particular and the nation in general
Rivers PDP Secretariat on fire, less than 24 hours after anti-Wike rally
The Peoples Democratic Party, PDP, Secretariat
along Port Harcourt/Aba Expressway in Port
Harcourt, has been set on fire in the early hours of
today by unknown persons after tying up the
security guards on duty.
Confirming the fire incident, Jerry Needam, the
Special Adviser to Felix Obuah, Chairman of PDP,on
Media said early arrival of state fire service helped
to put out the fire.
Also confirming the fire incident, Obuah said that
“An attempt to burn the party secretariat has being
carried out by desperate politicians who want the
party to postpone the party’s ward and local
Government Congresses scheduled to take place
tomorrow, Saturday. They have failed because
arrangements have concluded and we are going
ahead. Nobody can stop it. PDP will come tops”.
“We have watching on news of some desperate
politicians threatening the party.” Obuah said.
The fire incident is happening less than 24 hours
after 15 governorship aspirants held a mega rally
insisting on rotation of power in the Peoples
Democratic Party, PDP, at the Liberation Stadium.
Many of the aspirants urged President Goodluck
Jonathan and national leadership to intervene in
crisis rocking the state branch of the party allegedly
hijacked by the Nyesom Wike, former Minister for
Education who also has ambition to be governor.
At the time of this report, fire fighters were at scene
to put out the fire.
Wednesday, October 29, 2014
BREAKING: #OsunElectionTribunal – #AIT Apologises and Withdrew False Story
Africa gets first white president in Zambia
Full text of Tambuwal’s speech at APC’s special convention in Abuja
After collecting their N24m, PDP rejects two presidential aspirants
Jonathan blames Abuja explosions on overpopulation
Tuesday, October 28, 2014
Falsehood: Osun APC warns PDP
No plan to field Muslim-Muslim ticket – APC
Kwankwaso Declares For President, Urges Electorate To Vote Out PDP With Anger
Tambuwal formally defects from PDP to APC
Ghana to cut gas import from Nigeria
Amaechi shows strength
Wage: NLC plans mass protest
Nigeria needs $5bn to sustain economic stability, says Okonjo-Iweala
ABUJA—MINISTER of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, said yesterday that for Nigeria to sustain stability of its economy, it has to raise its excess crude account, which currently stands at $4.1 billion to $5 billion.
Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala
Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala
This came as indications emerged that the Senate may peg oil benchmark in the 2015 fiscal year at $78 per barrel as against $77.5 benchmark in the ongoing year.
Dr. OKonjo-Iweala, who spoke in Abuja, when she appeared before the Senate committees on Finance and National Planning, during consideration of the 2015-2017 Medium Term Expenditure Framework, MTEF, as a working document for the 2015 Budget, also dismissed claims that the country was financially bankrupt in spite of some cash fluctuations it was experiencing.
“Nigeria as a country has quite enough assets and I think anybody will agree to that. That is why when people say the country is broke, I say ‘absolutely not’ because if we wanted to mobilise any of our assets to cover, we could do that. Of course it could take a little bit of time.
“However, that does not mean that we cannot have some cash flow fluctuations, we just have to manage it because we have an economy that is reasonably self sufficient. We are able to manage ourselves well while everybody is willing to do a few things and we should be able to get there,” she said
While answering a question on whether the 2015 budget would be a workable one or not, based on its proposed parameters in the MTEF document, the minister said irrespective of whatever oil price benchmark will be approved by the National Assembly, the most important thing was for the country to arrive at a price that will give leverage for enormous savings against times like this.
“My belief is no matter what is settled on at this point in time, what is pleasing and that brings us all together is the realisation that what we were trying to say a few years ago has happened and it is happening in front of us and all of us need to come together to find a solution.
“Whatever the decision will be, even if we agree on another benchmark, we still need measures to be in place because we have no idea on whether the oil price will continue to drop or go up.
“So I think we need to prepare ourselves in two or three scenarios and we can share some of the scenarios that we have been thinking about that will guide our development of those contingency measures.
“I think that the excess crude account was built to be able to cushion us at times like this, when we have some kind of difficulties and I think it played that role to perfection during the crises of 2008, when oil fell to 38 to 40 dollars per barrel, even worse than what we have now. At that time, we still saved up quite a lot of money, as such we were able to draw at least for a quite a few months to carry the economy.
She added: “We have calculated that in order to help us regain this stability, we need a minimum of about five billion dollars and anything about that is good. The IMF actually calculated 6.3 billion to be maintained in that account.
“It helps to cushion our exchange rate so if we go and withdraw it abruptly beyond that amount it causes a problem and you know we went down to two billion last year and then we built it up to nine billion and there was insistence that we must share which made it to come down to $2 billion but we later at least built it back to $5 billion. Right now we are at 4.1 billion”.
Although, none of the committee members at the meeting could disclose the benchmark arrived at during the session, Vanguard gathered that members of the Red Chamber in the two committees opted for $78 oil price benchmark.
In the 2015-2017 MTEF, the executive had proposed the $78 oil price benchmark for the 2015 budget.
The minister told the committees that: “Every country faces a certain amount of risks and uncertainty at different times, so it is how you manage it that is a problem.”
“Are we prepared with a list of measures that can help us manage any of these outcomes? Have we thought through the various scenarios to say if anything happens? Yes, at the present time, we are reasonably stable compared with other countries but if those risks materialize, we need to have action in order to keep the economy stable.
Asked by the committee whether the 2015 budget was workable, Okonjo-Iweala responded: “My belief is, no matter what is settled on at this point in time, what is pleasing and that brings us all together is the realisation that what we were trying to say a few years ago has happened and it is happening in front of us and all of us need to come together to find a solution.”
“Whatever the decision will be, even if we agree on another benchmark, we still need measures to be in place because we have no idea whether it is going to go.
FG grants energy firms N20bn waivers
Ebola vaccine trials to start in Switzerland this week
Sunday, October 26, 2014
NDLEA Arrests 51yr Old Single Mother From Kwara With Cocaine, Heroin
Officers of the National Drug Law Enforcement Agency
(NDLEA) at the Murtala Muhammed International Airport
(MMIA) Lagos have apprehended a 51 year-old mother of four
children with 3.44kg of cocaine and heroin hidden inside body
cream. The drugs were found in her possession during the
outward screening of passengers on an Emirate flight to China.
NDLEA Airport commander, Hamza Umar who confirmed the
arrest gave the name of the suspect as Alade Muyinotu Alade.
According to Hamza, “Alade Muyinotu was caught with drugs
at the central screening area on her way to China. During
search, 150 wraps of cocaine weighing 1.725kg and 150 wraps
of heroin weighing 1.715kg concealed inside body cream were
found inside her luggage. The total weight of the drugs is
3.44kg. The case is currently under investigation”.
In her statement, the suspect said that she was offered 4,000
dollars to smuggle the drugs to China. “I used to import clothes
from Dubai and China when business was going on well with
me. I even had a shop at Balogun market. My problem started
when I lost my shop and was unable to rent another one. Since
then things have gone from bad to worse. My major concern is
that I have four children living with me and I am separated
from my husband. It was a friend that introduced me to the
people that gave me the drugs. They bought my return ticket
and offered me 4,000 dollars” Alade stated. She hails from
Kwara State.
Chairman/Chief Executive of the anti-narcotic Agency,
Ahmadu Giade described the action of the suspect as
unfortunate. In his words, “China is one of the countries with
capital punishment for drug trafficking. It is unfortunate for a
mother of four children to get involved in such a criminal act.
If not for our vigilance that led to her arrest, she would have
been killed abroad and her children left to suffer endlessly”
Giade stated.
The NDLEA boss urged stakeholders to be more dedicated to
the country’s drug control efforts, stressing that a drug-free
society is a crime-free society.
The suspect will soon be charged to court.
Ofoyeju Mitchell
Head, Public Affairs,
Minimum wage deregulation: TUC gives Senate one-week to clarify position
Sea pirates abducts six oil workers, four policemen in Bayelsa
2015: We need result that will inspire change —Votu Obada
FG to ban commercial motorcycles nationwide
JONATHAN’S RE-ELECTION: Anenih takes on Buhari in his comfort zone
Friday, October 24, 2014
Electric fault causes fire at airport
A fire engulfed the departures hall of the
Murtala Muhammed International Airport,
An electric fault has been established as the cause of the fire, which led travellers and aviation staff to run for safety. However, the incident has been termed as minor because the smoke was quickly traced to the second
floor of the terminal. No immediate danger was caused to anyone as a result of the incident nor were flights affected. Therefore immediate investigation has been commenced by the maintenance authority.
Thursday, October 23, 2014
Reps seek increment in NYSC allowances
Finally, Jonathan declares interest in 2015 election
Bill to end degree, HND dichotomy passes second reading
25 Things a woman never wants to hear
Sunday, October 19, 2014
See What Buhari Said Will Happen To Nigeria If PDP is Given Four More Years
How they used Jonathan’s name to dupe us — UNIPORT students
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