Giant brewer, Guinness Nigeria’s share price remained static on Thursday, November 12, at the Nigerian Stock Exchange, NSE, despite a N1 billion fine imposed by the National Agency for Food and Drugs Administration and Control.
The brewer is currently engaging the NAFDAC on the resolution of the big fine.
In a letter to the investing public at the Exchange, the company stated that its legal review had shown that there was no basis for the N1 billion “administrative charge” from NAFDAC and it has started discussions with NAFDAC to resolve the issue.
Managing Director, Guinness Nigeria Plc, Peter Ndegwa, in a statement, said all products from Guinness Nigeria conform to the highest standards of quality.
Referring to the Guinness Nigeria production facilities in Ogba, Benin City and Aba, Ndegwa stated that each of the breweries continues to work to exceed critical standards in areas such as quality and very importantly, human safety and environmental preservation. “On an incremental basis we continue to automate our processes,” Ndegwa said.
“Indeed, with an investment in excess of N52 billion in improving manufacturing processes, our brewing plants would rank favourably among the most automated and modern brewing plants around the world,” Ndegwa said.