Thursday, November 15, 2018 / 04:40 PM / NSE
Nigerian Breweries Plc hereby confirms that officials of the National Lottery Regulatory Commission (“NLRC” or “the Commission”) sealed up its Headquarters premises in Lagos and two of its premises in FCT, Abuja on the 13th of November, 2018 and the 12th of November, 2018 respectively.
Prior to the above actions, the Nigeria Employers’ Consultative Association (NECA) on behalf of its member companies (including Nigerian Breweries Plc) had instituted an action in court against the Commission challenging the powers of the commission to regulate consumer sales promotion in the country moreso as they form part of the marketing and sales activities of the commercial companies. The court action is pending at the Court of Appeal.
The NLRC had demanded from the Company, certain disputed fees on the Company’s consumer sales promotions, which demands the company had resisted on the basis of the pending court action.
The offices in Lagos and Abuja were subsequently unsealed by the NLRC in the evening of 13th November, 2018.
We wish to state that we will continue to engage with all the appropriate stakeholders while seeking to protect and uphold our Company’s reputation as a good corporate citizen in the country.