Business Hilights

Tracking Nigeria's Headline Business News Online

Industry MARKETS

Our emerging synergy with NAFDAC’ll end counterfeiting—BBA President

Ad 2
Ad 3

The President of the largest International Centre of Commerce (ICC) in Sub-Saharan Africa, the Balagoun Business Association (BBA), Lagos International Trade Fair complex, Hon. Oscar Paul Ikechukwu Odogwu has opened up on the strategic plans of his administration to end product counterfeiting and the resultant incessant raids by NAFDAC.

Speaking in a recent exclusive media chat with Business Hilights in his office, he not only decried the raids by NAFDAC, but revealed that he is in talks with the agency on building an intelligence structure that will end product fakery in the association.

Recall that recently, NAFDAC raided the complex over counterfeiting of a particular cosmetic product which the agency impounded from shops and warehouses in the market, thus raising issues of fears.

However, Hon Odogwu said that “We are already in talks with NAFDAC. Actually one thing we need to bear in mind is that BBA has no power to stop any federal agency in doing their statutory duties.

“The best alternative for us is to try as much as possible to compel our members to stop involvements in product counterfeiting or abuse of franchise. We at BBA clearly frown at counterfeiting in all its ramifications and will do everything possible to stamp it out here.

“BBA is in talks to limit inversions and at the same time develop an arrangement whereby we at BBA can arrest these culprits and hand them over to NAFDAC. We are developing this partnership structure for both edible and cosmetic products.

Continuing, Hon. Odogwu revealed that his administration has built a structure of identifying and dealing with these counterfeiters and also handing them over to NAFDAC or any relevant law enforcement agency of the government.

“I can attest to you that we have done much on this front in the areas of beverages and we have recorded huge success in the process.

He further advised BBA members to desist from getting involved in fakery as his administration will do everything to frustrate perpetrators going forward.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.