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NAFDAC ALERTS NIGERIANS OVER ADULTERATED SPRITE

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The National Agency for Food and Drug Administration and Control, NAFDAC, has issued a public notification regarding a batch of adulterated Sprite 50cl glass bottles circulating in Nigeria.

According to a statement released on Wednesday, the agency’s post-marketing surveillance unit discovered the issue following a consumer complaint, leading to an investigation.

Upon investigation at the point of purchase and the supplier’s address, NAFDAC found that over five crates of the implicated batch of Sprite 50cl glass bottles were contaminated with particles.

The agency has taken samples from the affected batch for laboratory analysis at the NAFDAC laboratory. It has also instructed all zonal directors and state coordinators to conduct surveillance and remove the contaminated batch from circulation.

To address the situation, NAFDAC will conduct a comprehensive inspection of the manufacturing site to identify the root cause of the adultration and ensure compliance with marketing authorization.

Furthermore, the Nigerian Bottling Company Limited (Abuja plant), the manufacturer of the product, has been directed to recall the adulterated batch and cooperate with NAFDAC for monitoring purposes.

The specific details of the affected product are as follows:

Product name: Sprite 50cl glass bottles Product manufacturer: Nigerian Bottling Company Limited (Abuja plant) Batch Number (BN): AZ6 22:32 Manufacturing Date (MFD): 180423 Best Before Date (BB): 180424

NAFDAC urges distributors, retailers, and consumers to exercise caution and vigilance to avoid consuming, selling, or distributing the adulterated product. It advises carefully checking the authenticity and physical condition of the products.

Individuals in possession of the mentioned batch of Sprite 50cl glass bottles are advised to submit their stock to the nearest NAFDAC office. Anyone who has consumed the product or experienced adverse reactions after consumption is urged to seek immediate medical advice from a qualified healthcare professional.

The public is encouraged to report any suspicions of the distribution and sale of contaminated packaged food products to the nearest NAFDAC office, contact NAFDAC directly at 0800-162-3322 or via email at sf.alert@nafdac.gov.ng.

Consumers are also encouraged to report any adverse events or side effects related to the consumption of adulterated packaged food products to the nearest NAFDAC office or through the available e-reporting platforms on the NAFDAC website (www.nafdac.gov.ng). They can also use the Med-safety application, available for download on Android and iOS stores, or email: pharmacovigilance@nafdac.gov.ng .

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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