NEWS

The National Agency for Food and Drug Administration and Control (NAFDAC) has seized more than 10 million doses of counterfeit malaria medicines and cosmetic products valued at about N3 billion at the Trade Fair Market in Lagos. This was disclosed by Director of Investigation and Enforcement, Dr. Martin Iluyomade, during a media briefing in Apapa.  Iluyomade, who is also Chairman of the Federal Task Force on Counterfeit and Fake Drugs and Unwholesome Processed Foods, said the operation followed credible intelligence received on February 3. He said the seized items included fake anti-malaria drugs and injections used for cerebral malaria, antibiotics, Postinor, and Analgin, an analgesic banned in Nigeria for nearly 15 years, among other products.  According to him, eight truckloads of fake ...

The Nigerian stock market opened the week on a bullish trajectory on Monday, with investors recording gains of N1.424 trillion.Market capitalization rose by 1.29 percent to close at N111.658 trillion, up from an opening figure of N110.234 trillion, reflecting a N1.424 trillion increase.Similarly, the Nigerian Exchange Limited (NGX) All-Share Index advanced by 1.29 percent, gaining 2,218.73 points to settle at 173,946.22 from 171,727.49.As a result, the market’s year-to-date return improved to 11.78 percent, while market breadth closed positive with 59 gainers against 26 losers.The rally was driven by strong demand for large- and mid-cap stocks such as CAP, Daar Communications, May & Baker, RT Briscoe, and Zichis Agro Allied Industries, alongside 54 other advancing equit...