Business
NAFDAC Endorses Made-In-Nigeria NIVEA Black & White Roll-On
Nigeria’s food and drugs regulatory body, the National Agency for Food and Drug Administration and Control (NAFDAC) has confirmed that the NIVEA Black & White Roll- On manufactured in Nigeria is safe for public use.
This is contained in the update it issued on its initial Safety Alert Notification of October 31, 2024, regarding NIVEA Black & White Invisible Roll-on deodorant (50 ml) batch number 93529610, in relation to the general European Union (EU) Rapid Alert System for Dangerous Non-Food Products (RAPEX).
In the latest update on the issue on its website dated November 2, 2024, the agency confirmed the safety of the NIVEA Black & White Invisible Roll-on deodorant (50 ml) manufactured in Nigeria.
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NAFDAC stated in the updated alert notification, “A recent investigation shows that the Black and White Nivea Roll-on deodorant manufactured in Nigeria does not contain the non-compliant ingredient (BMHCA)”.
Recall that following the release of the initial notification by the agency, the manufacturers of the product, Beiersdorf, issued a statement in which it assured its esteemed customers that the Batch No. 93529610 in question had not been marketed in Nigeria and thus was never recalled by Beiersdorf, the owner of NIVEA brand, as the legal manufacturer.
It added that the batch in question had, in fact, expired in January 2022 and was hence at the time fully compliant with the then valid European cosmetic regulation. The company also pointed out that based on current European legislation, the use of ingredient 2-(4-tert-Butylbenzyl propionaldehyde (LilialTM) in cosmetic products has been banned from the European markets as of March 1, 2022.
“As a responsible corporate citizen, Beiersdorf is working collaboratively with NAFDAC to safeguard the interest of the Nigerian consumers by ensuring that our locally manufactured product meets the global quality standards”, the company said, adding that the safety of its consumers remains its highest priority, consistent with its ethical philosophy as a business.
“In pursuit of this commitment, Beiersdorf’s entire NIVEA product portfolio formulations have been reformulated to be Lilial-free formulas in full compliance with the EU Regulation on cosmetic products well ahead of its Lilial ban coming into effect as far back as March 1, 2022. For instance, the formulation of NIVEA Black & White Invisible Roll-on deodorant has been Lilial-free since at least 2020 across the globe, including Nigeria”, the company further said.
It said it had informed its trade partners ahead of time and reminded them of their responsibility to remove the outdated Lilial-containing products within the legal timeframe to fulfill their obligations with the European Cosmetic Product Regulation.
The Nigerian Economic Summit Group (NESG) has projected that the country has the potential to achieve a 5.5% growth in Gross Domestic Product (GDP) if critical policy reforms are sustained.
This was disclosed on Thursday during the launch of the NESG’s 2025 Macroeconomic Outlook report.
Speaking at the event, the Chief Economist and Director of Research & Development at NESG, Dr. Olusegun Omisakin, highlighted the need for more efficient policy implementation to unlock Nigeria’s economic potential.
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“We believe at the optimal level, if we embark on more efficient policy reforms, the Nigerian economy has the potential, the GDP to end up at 5.5 per cent, and we believe that this is achievable,” Omisakin stated.
More to follow……….
The Central Bank of Nigeria (CBN) has announced the release of the Nigerian Foreign Exchange (FX) Code, a set of guidelines designed to promote ethical conduct among authorized dealers in the country’s FX market.
In a statement, the apex bank disclosed that the official launch of the Code would take place on Tuesday, January 28, 2025, at the CBN Head Office Auditorium in Abuja.
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“The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market,” the statement read.
The introduction of the FX Code is expected to enhance transparency, accountability, and professionalism within Nigeria’s foreign exchange ecosystem, aligning it with global best practices.
The event is anticipated to attract key stakeholders in the financial and banking sectors, as well as representatives from authorized FX-dealing institutions across the country.
The 47th President of the United States, Donald Trump attracted up 3 trillion dollars in investments into the country’s economy in his first full day at work.
This was gleaned from the verified handle of the POTUS on micro-blogging site, X, on Wednesday.
Biztellers reports that the POTUS is focused ensuring at least $1 trillion investment daily for the first seven days of his return to the White House, which would be driven by key clearly identified areas, including artificial intelligence.
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President Trump wrote, “In total, before the end of my first full business day in Washington and the White House, we’ve already secured nearly $3 trillion of new investments in the United States.
“And probably, that’s going to be six or seven by the end of the week.”
In a short video clip accompanying the statement, President Trump assured that the surge in investments would likely hit $7 trillion within his first seven days as the 47th POTUS.
He highlighted that artificial intelligence had proven to be an area lots of willing entrepreneurs had shown much appetite for.
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