Industry News

Reason Why Nigerian Breweries Offices Were Recently Sealed Off

David Masifon

BY David Masifon

The National Lottery Regulatory Commission (NLRC) briefly sealed Nigerian Breweries (NB) Plc’s Headquarters premises in Lagos and two of its offices in Abuja.

In a notice to the Nigerian Stock of Exchange (NSE), NB Plc said the NLRC sealed its Abuja premises on November 13, 2018, and November 12, 2018, respectively.

Although, the offices in Lagos and Abuja have been subsequently unsealed by the NLRC on November 13, 2018.

Reason for the Seal Off

The Nigeria Employers’ Consultative Association (NECA) on behalf of its member companies (including Nigerian Breweries Plc) had earlier instituted a court action against the NLRC challenging the powers of the Commission to regulate consumer sales promotion in the country, as they form part of the marketing and sales activities of the concerned companies. The court action is pending at the Court of Appeal.

The NLRC had demanded from the Nigerian Breweries, certain disputed fees on the Company’s consumer sales promotions, a demand the Company had resisted on the basis of the pending court action.

NB Plc’s refusal had consequently led to the sealing action which the company announced were subsequently unsealed by the NLRC on the evening of 13th November 2018.

The firm also stated its resolve to continue to engage with all appropriate stakeholders while seeking to protect and uphold the company’s reputation as a good corporate citizen in the country.

 

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