Business
BRIBERY ALLEGATIONS: Provide evidence in seven days or face legal action — Lawmaker tells Binance executive
Philip Agbese, a member of the house of representatives, has denied a bribery allegation against him by an executive of Binance Holdings Limited, Tigran Gambaryan.In a post published on X on Friday, Gambaryan recounted his experiences in the hands of some Nigerian lawmakers.
Gambaryan claimed three lawmakers, including Peter Akpanke, and Agbese demanded a $150 million bribe in cryptocurrency payment into their personal wallets.
The Binance executive, however, failed to provide any evidence to support his claims.
In a statement issued on Friday, Agbese said he was not a member of the committee and never demanded a bribe from Binance.
“I am outraged by the false allegations made by Tigran Gambaryan, an executive of the controversial crypto firm Binance, claiming that I was among those who demanded a $150 million bribe from him,” the statement reads.
These allegations are false. I was not part of any meeting with any Binance executive regarding money for any purpose.
“The leadership of the committee took the matter to court, and Binance has already apologized.
“Let it be on record that I am not a member of the Committee on Economic and Financial Crimes. I visited my colleague, Hon. Peter Ankpanke, in his office, where he was meeting with some visitors about an activity of his Committee, with Hon. Peter Anakwe, a member of the Committee present.
We exchanged pleasantries and, in character with my person as an avid pursuer of knowledge, discussed Binance’s activities that did not include any demand from anyone.
“It was during this visit to the office of Hon. Peter Ankpanke, with Hon. Peter Anekwe present, that he told me they were interfacing with Binance Team from abroad over a referral to their Committee.
What transpired between the two of them and the Binance executive after I left the office is left to them.
I never saw those visitors again after that chance meeting and did not afterwards attend any meeting with Binance executives, the EFCC, or the DSS.
“I am aware that when this issue was first raised, the Chairman of the Committee went to court and Binance apologised. So, all inquiries should be directed to the Committee, not to Hon. Philip Agbese.”
Agbese noted that he has never been involved in any cryptocurrency trading and does not have a crypto wallet so he could not have asked for funds to be credited to a “non-existent wallet”.
Agbese urged Gambaryan to either publish any evidence linking him to the bribery accusation or apologize within seven days, or face legal action.
Read the full statement below:
“I am outraged by the false allegations made by Tigran Gambaryan, an executive of the controversial crypto firm Binance, claiming that I was among those who demanded a $150 million bribe from him.
These allegations are false. I was not part of any meeting with any Binance executive regarding money for any purpose.
The leadership of the Committee took the matter to court, and Binance has already apologized.
“Let it be on record that I am not a member of the Committee on Economic and Financial Crimes. I visited my colleague, Hon. Peter Ankpanke, in his office, where he was meeting with some visitors about an activity of his Committee, with Hon. Peter Anakwe, a member of the Committee present. We exchanged pleasantries and, in character with my person as an avid pursuer of knowledge, discussed Binance’s activities that did not include any demand from anyone.
“It was during this visit to the office of Hon. Peter Ankpanke, with Hon. Peter Anekwe present, that he told me they were interfacing with Binance Team from abroad over a referral to their Committee.
What transpired between the two of them and the Binance executive after I left the office is left to them. I never saw those visitors again after that chance meeting and did not afterwards attend any meeting with Binance executives, the EFCC, or the DSS.
“I am aware that when this issue was first raised, the Chairman of the Committee went to court and Binance apologised.
So, all inquiries should be directed to the Committee, not to Hon. Philip Agbese.
“I have never used any cryptocurrency as I do not have a crypto wallet anywhere in the world, so I could not have asked for funds to be credited to a non-existent wallet.
Gambaryan and his associate, who escaped from prison, should return to the EFCC and defend themselves. Instead of trying to implicate me, they should focus on addressing the allegations against them.
As a consequence of the foregoing, I demand that Tigran Gambaryan publishes any evidence that links Hon. Philip Agbese to the issue. The man has spewed many other lies in his report about the government demanding information on opposition elements and other outrageous claims.
I further demand that, failing to provide evidence as stated, Tigran Gambaryan must cause a retraction of his malicious claims and publication and apologise to me within the next 7 days or face legal action from my lawyers.
This is not the first allegation against me by a foreign entity.
The first was that I work for the past government and the Armed Forces to promote Nigeria’s agenda, which shows the extent of desperation by entities that are interested in undermining public office holders they perceive as nationalistic.
Business
FOBTOB seeks fresh dialogue over ban on alcohol in sachets and PET bottles
Therefore, while NAFDAC states that factories will not be shut down, the policy will result in economic shutdown, particularly for indigenous manufacturers and informal-sector participants.
Food, Beverages and Tobacco Senior Staff Association (FOBTOB) said on Thursday that the NAFDAC’s blanket ban on satchets alcohol is economically destructive.
FOBTOB, there call out for a fresh dialogue comprising the stakeholders in the industry, the National Assembly, the Federal Ministry of Health, NAFDAC and Civil society organizations to engage in open, transparent, and evidence-based dialogue aimed at crafting policies that protect public health without destroying livelihoods or creating regulatory contradictions.
Reacting to a press release issued by the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC) today regarding the enforcement of a ban on alcoholic beverages packaged in sachets and small containers below 200ml, FOBTOB President, Jimoh Oyibo, disclosed that while the association acknowledge and fully supports the shared objective of protecting children, adolescents, and vulnerable populations from the harmful use of alcohol
“We must express deep concern that the approach adopted by NAFDAC is disproportionate, economically disruptive, and inconsistent with broader regulatory and public health realities in Nigeria,” he said.
PUBLIC HEALTH IS IMPORTANT — BUT POLICY MUST BE BALANCED AND EVIDENCE-BASED
No reasonable stakeholder disputes that excessive alcohol consumption is harmful.
However, public health challenges require holistic, data-driven, and enforceable solutions, not blanket prohibitions that fail to address root causes.
Alcohol abuse among minors is primarily a challenge of effective enforcement, parental responsibility, public education, and social regulation, rather than one of packaging format.
The size of an alcohol container does not in itself, confer safety, nor does increasing pack sizes prevent access by minors.
The global public health evidence consistently demonstrates that behavioural regulation, age-restriction enforcement, education-driven interventions, and appropriate sanctions are more effective in addressing underage alcohol consumption than blanket product bans.
NAFDAC’S CLAIM ON UNINTERRUPTED COMPANY OPERATIONS – CONTRADICTED BY EVIDENCE
Notwithstanding representations made by affected stakeholders, access to these depots has not been restored by NAFDAC, and this is affecting normal business operations negatively.
As a labour union, the livelihoods of our members will be adversely affected by the closure of manufacturers’ depots.
We have compiled records of these enforcement actions for reference and ongoing engagement, which are presented alongside this article.
ECONOMIC AND SOCIAL CONSEQUENCES CANNOT BE IGNORED
For many indigenous distillers, blenders, and distributors, sachet and sub-200ml packaging does not constitute a marginal segment of their operations but rather is the foundation of the core business model.
These packaging formats were intentionally developed to serve low-income consumers, informal retail channels, and rural markets where considerations such as affordability, portability, and unit pricing determine demand.
Also, the claim that the policy only affects “two packages” does not fully convey the magnitude of the impact.
In operational terms:
Production lines are configured specifically for sachet and small-format bottling.
Distribution networks are optimized for high-volume, low-unit sales
Retail reach is largely dependent on maintaining affordability at the lowest price points.
For many small and medium-scale operators, this transition will not be financially attainable.
Therefore, while NAFDAC states that factories will not be shut down, the policy will result in economic shutdown, particularly for indigenous manufacturers and informal-sector participants.
The ban on sachets and small containers below 200ml also risks tilting the market in favour of larger, better-capitalized multinational players who can absorb retooling costs and pivot to premium pack sizes.
Smaller local producers, who rely overwhelmingly on sachet sales, are disproportionately harmed, raising concerns about market concentration and unfair competitive outcomes.
Public health and economic survival are not mutually exclusive.
Nigeria deserves policies that are balanced, humane, enforceable, and fair.
The solution lies in moderation, education, and enforcement, not in policies that punish many while failing to address the real drivers of abuse.
SIGNED BYJIMOH OYIBONATIONAL PRESIDENT FOOD, BEVERAGE AND TOBACCO SENIOR STAFF ASSOCIATION (FOBTOB
Business
We ban alcohols in retail satchets for national interest – Prof Adeyeye
Placing a label to read not for children on the sachets and the small containers will not work. It cannot be enforced because of the peculiarity of the society.
The National Agency for Food and Drug Administration and Control (NAFDAC) declared on Thursday that it only ban alcohol in sachet and small containers less than 200ml, and didn’t close down any company in the sector.
“The aim of the ban is to protect vulnerable population such as children and the youth,” said Prof Mojisola Christianah Adeyeye, Director-General, NAFDAC, asserting:”This ban is not punitive; it is protective.”
In a statement , the NAFDAC DG, emphasised that the ban was in line with the recent directive of the Senate of the Federal Republic of Nigeria, and backed by the Federal Ministry of Health and Social Welfare, underscores the agency’s statutory mandate to safeguard public health and protect vulnerable populations particularly children, adolescents, and young adults from the harmful use of alcohol.
The proliferation of high-alcohol-content beverages in sachets and small containers less than 200 ml has made such products easily accessible, affordable, and concealable, leading to widespread misuse and resultant addiction among minors and some commercial drivers.
This public health menace has been linked to increased incidences of domestic violence, road accidents, school dropouts, and social vices across communities.
Placing a label to read not for children on the sachets and the small containers will not work. It cannot be enforced because of the peculiarity of the society.
Many parents dont know their children take alcohol in sachet because the pack size can be easily concealed and the sachet is cheap. History of six years of moratorium given to manufacturers to reconfigure their product lines:
In December 2018, NAFDAC, the Federal Ministry of Health, and the Federal Competition and Consumer Protection Commission (FCCPC) signed a five-year Memorandum of Understanding (MoU) with the Association of Food, Beverage and Tobacco Employers (AFBTE) and the Distillers and Blenders Association of Nigeria (DIBAN) to phase out sachet and small-volume alcohol packaging by January 31, 2024.
The moratorium was later extended to December 2025 to allow industry operators to exhaust old stock and reconfigure production lines.
NAFDAC emphasizes that the current Senate resolution aligns with the spirit and letter of that agreement and with Nigeria’s commitment to the World Health Assembly Global Strategy Resolution to Reduce the Harmful Use of Alcohol (WHA63.13, 2010), to which Nigeria is a signatory since 2010.
The ban on sachet packaging and PET botttle less than 200 ml is to make it difficult for children to get to alcohol and its consumption.
NAFDAC approves alcohol in bigger pack sizes. The small size of the sachet makes it easier for underage to conceal from parents and teachers.
Report from schools show that children conceal the sachets. A teacher recently reported that a student said he couldnt take exam without taking sachet alcohol.
It is aimed at safeguarding the health and future of our children and youth by not allowing alcohol in small pack sizes.
The decision is rooted in scientific evidence and public health considerations. We cannot continue to sacrifice the wellbeing of Nigerians for economic gain.
The health of a nation is its true wealth.NAFDAC reiterates that only two packages of alcoholic beverages are affected by this regulation – spirit drinks packaged in sachets and small-volume PET/glass bottles below 200ml.
The Agency calls on all stakeholders, including manufacturers, distributors, and retailers, to comply fully with the phase-out deadline, as no further extension will be entertained beyond December 2025.
The Agency will continue to work collaboratively with the Federal Ministry of Health and Social Welfare, the Federal Competition and Consumer Protection Commission (FCCPC), and the National Orientation Agency (NOA) to implement nationwide sensitization campaigns on the health and social dangers associated with alcohol misuse.
NAFDAC remains resolute in its mission to ensure that only safe, wholesome, and properly regulated products are available to Nigerians.
Business
Chinese investors establish $20m Lithium plant in Kwara with pharmaceutical plant underway
According to Sun, the company currently employs more than 300 workers, most of whom are indigenes of Kwara State.
Image: Lithium mineral
A Chinese firm, ER KANG Company Limited, has established a $20 million lithium processing factory in Kwara State.
ER KANG is also establishing a pharmaceutical manufacturing company in Kwara, valued at over $15 million, bringing the total Chinese investment in the state to approximately $35 million.
Team lead of the company, Sun Qing Rong, disclosed this in Ilorin during a meeting with Governor AbdulRahman AbdulRazaq on Wednesday.
He said the lithium plant is already operational and the investment is intended to prevent the export of raw minerals without processing.
Sun explained that the facility converts lithium into ready-to-use industrial materials, ensuring the mineral is processed locally rather than exported in its raw form.
He noted that the initiative aligns with government policies promoting value addition in the state.
According to Sun, the company currently employs more than 300 workers, most of whom are indigenes of Kwara State.
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