PZ Cussons Plc, the parent company of PZ Cussons Nigeria, says the company is planning to sell its African subsidiaries.

In its ‘Results for the year ended 31 May 2024,’ published on Wednesday, PZ Cussons said the company is looking at partial or full sale.

PZ Cussons said the sale will reduce the company’s exposure to naira fluctuations.

According to the consumer goods manufacturer, the board has received multiple interests in the sale of its African business.

 

“The Group is currently engaged in a process to sell its St Tropez brand and is exploring potential transactions that could lead to a partial or full sale of its Africa business, having received a number of expressions of interest,” PZ Cussons said.

“A partial or full sale of the Group’s Africa business could materially reduce the Group’s exposure to fluctuations in the Naira exchange rate.

“The Board has committed to using any proceeds from these transactions to first reduce gross borrowings, and consequently the level of the Group’s net interest cost.”

‘NIGERIANS ARE FACING UNPRECEDENTED ECONOMIC DIFFICULTIES’

Jonathan Myers, PZ Cussons’ chief executive officer (CEO), said Nigerians are facing unprecedented inflation and economic difficulties.

Myers said the naira devaluation has also significantly impacted the company’s financials.

“The period was marked by a 70% devaluation of the Nigerian Naira, which has had significant implications on our reported financials,” he said.

“We have worked hard to mitigate the impact of this on the Group, while continuing to serve Nigerian consumers who are facing unprecedented inflation and economic difficulties.”

Commenting on the impact of the naira devaluation, PZ Cussons said a foreign exchange loss of £107.5 million “primarily arose from the translation and settlement of USD denominated liabilities in our Nigerian subsidiaries and is wholly the result of the devaluation of the Naira, which fell by 70% from 31 May 2023 to 31 May 2024”.

In April, Myers said the company was reviewing its brands and geographies over macroeconomic challenges and complexities in Nigeria.

He spoke a month after the Securities and Exchange Commission (SEC) rejected PZ Cussons’ request to acquire the shares of minority shareholders in PZ Cussons Nigeria Limited, its Nigerian subsidiary.

In September 2023, PZ Cussons had shown interest in buying the remaining 26.73 percent minority shares in its Nigerian subsidiary, at a price of N21 per unit.

As of May 31, PZ Cussons holds a 73.27 percent stake in the Nigerian subsidiary, which represents 2.90 billion shares, worth N45.53 billion as of September 18.

Super Eagles of Nigeria have failed to move in the latest FIFA global ranking released by the world football body earlier today, September 19, 2024.

The Super Eagles of Nigeria who recorded one win and one draw during the 2025 Africa Cup of Nations (AFCON) qualifiers earlier this month, maintained their 39th position on the ranking.

Recall that the Super Eagles secured a 3-0 victory at home against the Cheetahs of Benin Republic and played to a 0-0 draw away against the Amavubi of Rwanda in the said AFCON qualifiers.

Despite their recent performances, the three-time African champions are currently ranked sixth in Africa. The top five teams on the continent based on the latest ranking are Morocco, Senegal, Egypt, Cote d’Ivoire, and Tunisia.

Reigning FIFA World Cup champions, Argentina remain the best rated national team in the world according to the football body. Other countries in the top five globally are France, Spain, England, and Brazil.

Below are the top 40 ranked teams in the September 2024 FIFA ranking

1. Argentina

2. France

3. Spain

4. England

5. Brazil

6. Belgium

7. Netherlands

8. Portugal

9. Colombia

10. Italy

11. Uruguay

12. Croatia

13. Germany

14. Morocco

15. Switzerland

16. Japan

17. Mexico

18. USA

19. Iran

20. Denmark

21. Senegal

22. Austria

23. Korea Republic

24. Ukraine

25. Australia

26. Türkiye

27. Ecuador

28. Sweden

29. Wales

30. Poland

31. Egypt

32. Hungary

33. Côte d’Ivoire

34. Russia

35. Serbia

36. Tunisia

37. Panama

38. Canada

39. Nigeria

40. Venezuela

The governorship candidate of the Peoples Democratic Party (PDP) in Edo State, Asue Ighodalo, has officially declared his campaign activities closed in line with the electoral laws.

The Team Asue Media Organisation (TAMO), in a statement signed by Erhabor Emokpae, said that all campaign activities had ceased as of Sept. 19.

The statement reads, “We would like to inform the general public that the current campaign has been officially concluded Ighodalo and consequently directed that no activity in this regard should exceed midnight, Sept. 19.

“After this time, any publications, advertisements, jingles, or any other promotional materials made in respect of the subject matter have not the blessing, endorsement or authorisation of Ighodalo or all that is associated with him in respect of same.

“Please be advised, therefore, Ighodalo will not be liable or held responsible for any consequences arising from any further campaign or promotional activities or communications conducted after the campaign’s official closing time and date.

“Ighodalo expressed profound gratitude to the good people of Edo for their overwhelming support and participation throughout the campaign.”

He urged all voters to turn out in large numbers, exercise their civic duty and remain vigilant to protect and defend their votes on election day.

Ighodalo added, “As we close this chapter, we thank every supporter for embracing the message of ‘the pathway to prosperity for all.

“Together, let us ensure that our collective will is respected at the polls.”

Former Arsenal striker, Jay Emmanuel-Thomas, 33, has been charged with drug smuggling after UK authorities uncovered cannabis worth £600,000 at Stansted Airport.

Emmanuel-Thomas, who currently plays for Greenock Morton after signing with the club earlier this year, was arrested on Wednesday morning at 8 am following the discovery by UK Border Force officials.

The drugs, weighing approximately 60 kilograms, were found in two suitcases that had arrived on a flight from Bangkok on September 2.

Drugs

According to the National Crime Agency (NCA), Emmanuel-Thomas was promptly arrested and charged with importing class B drugs.

The footballer, once praised by Arsène Wenger for his potential, is now in custody and is set to appear at Carlisle Magistrates Court on Thursday to answer the charges.

In addition to Emmanuel-Thomas, two women, aged 28 and 32, were also arrested at Stansted Airport in connection with the incident.

Both women face similar drug importation charges and were granted bail after their initial court appearance at Chelmsford Magistrates Court. They are due to appear at Chelmsford Crown Court on October 1.

Senior Investigating Officer at the NCA, David Phillips, emphasized the agency’s commitment to tackling drug smuggling operations, noting that they work closely with Border Force to target both couriers and those organizing such crimes.

Phillips said: “The NCA continues to work with partners like Border Force to target those involved in drug smuggling – that includes both the couriers and the organizers.

“We would appeal to anyone who is approached to engage in any kind of smuggling to think very carefully about the likely consequences of their actions, and the potentially life-changing risks they will be taking.”

Emmanuel-Thomas, who began his football career at Arsenal’s youth academy at just eight years old, made his Premier League debut in 2010 in a 2-0 defeat against Chelsea.

However, after struggling to secure a place in the first team, he left Arsenal in 2011, signing with Ipswich Town for £1.1 million.

Ahead of the Saturday gubernatorial election, the Edo State governor, Godwin Obaseki has disclosed that his party, the Peoples Democratic Party, PDP, will accept the outcome of a properly conducted election.

The governor stated this on Thursday in a post on his official X handle while sharing updates on his meeting with the Chief of Defence Staff, CDS, General Christopher Gwabin Musa.

Obaseki added that his major demand was for the Edo people to be allowed to freely go to the polls to elect the candidates of their choice.

“We are not asking for any favour but are stating that Edo citizens should be free to go to the polls to elect the candidates of their choice. We will accept the outcome of a properly conducted election.

“For eight years, the security forces in the state have been highly cooperative in helping us address security concerns. Together, we have established Forward Operating Bases and designed a digitised security architecture that has made Edo one of the safest states in the nation,” he posted.

Substandard products, including counterfeit pharmaceuticals and medical devices, with a total value of ₦43 billion, were recently set ablaze by the National Agency for Food and Drug Administration and Control (NAFDAC).

Naija News reports that NAFDAC destroyed the said items on Thursday at the Moniya dump site located in the Akinyele Local Government Area in Ibadan, the capital of Oyo State.

Representatives from various security agencies and the Oyo State Government monitored the exercise.

During the proceedings, NAFDAC’s Director-General, Professor Christiana Mojisola Adeyeye, who was represented by Pharm Shabba Mohammed, the Director of Investigation and Enforcement, indicated that the products were voluntarily surrendered to the agency by compliant companies, non-governmental organizations (NGOs), and trade unions.

Professor Adeyeye elaborated on the extensive measures that facilitated the confiscation of numerous registered and unregistered pharmaceutical products, highlighting a series of raids conducted in various locations.

The confiscated items encompassed aphrodisiacs, sex enhancement medications, over-the-counter drugs, and prescription-only pharmaceuticals.

“Over thirty different products were seized in total,” Adeyeye noted, highlighting that the confiscated items included banned substances such as codeine and narcotics, with a total value exceeding ₦48 million.

“The agency has been actively gathering intelligence on illegal warehousing, sale, and distribution of narcotics by pharmaceutical vendors in Lagos and other states.

“Recent raids conducted by the Investigation and Enforcement Directorate resulted in the confiscation of products worth over ₦700 million.

“In addition to counterfeit pharmaceuticals, the operation also targeted contraband items such as unregistered soaps, tomato paste, and counterfeit beverages,” the NAFDAC DG noted.

Adeyeye underscored the critical role of public participation in the fight against counterfeit medications and substandard food items.

She encouraged individuals to report illegal activities to the closest NAFDAC office for prompt investigation.

“Through these measures, NAFDAC seeks to safeguard public health and safety while fostering adherence to regulations within the pharmaceutical sector,” she remarked.

The National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Ganduje, has firmly denied any involvement in a purported plan to remove the 16th Emir of Kano, Muhammad Sanusi II.

Naija News reports that this comes after a viral social media post alleged that Ganduje was leading a renewed effort to dethrone the emir, a claim the former Kano State governor has dismissed as baseless.

The controversy stems from a previous incident during Ganduje’s tenure as governor, when Emir Sanusi was removed from his position, a decision upheld by the courts.

Many at the time speculated that the ruling was influenced by the government of the day.

In a statement issued in Abuja, Ganduje, speaking through his Senior Special Assistant on Public Enlightenment, categorically distanced himself from any fresh moves against the Emir.

He stressed that since he no longer holds the office of governor or speaker of the state’s House of Assembly, he has no authority over such matters.

The statement also ridiculed the idea that Ganduje would be plotting to influence the emirate’s affairs, noting that his current focus is on leading the APC and ensuring the continued success of the party.

The statement read, “Ganduje has nothing to do with the present enthronement or dethronement of Emir Mohammad Sanusi in Kano. It should be noted that he is no longer the executive governor or the speaker of the House of Assembly and therefore cannot have anything to do further with the Emirship of Kano.

“It is laughable that Ganduje who has left office as governor for some years now would be accused of masterminding a fresh plot to remove or enthrone an Emir. He is now very busy with leading the APC. He is satisfied with the enormous contributions he made in terms of massive dividends of democracy, infrastructural developments, and the good governance he provided while he held sway as governor.

“Those who are behind this sinister move to malign the APC national chairman have revealed the clandestine and dangerous motive of the sponsors to create bad blood between Ganduje and the presidency.

“Let me reiterate here that he has great respect for the national leader of the party, President Bola Tinubu. The relationship has been very cordial and no amount of blackmail can destroy the solidity of the partnership.”

The Court of Appeal in Abuja on Thursday granted the request of the Federal Government and former Chief Justice of Nigeria, (CJN), Justice Walter Onnoghen, to settle out of court an appeal challenging his removal from office.

The decision of the court followed information that the two parties in the suit have intensified efforts to reach an amicable settlement of all issues in the dispute.

Former President Muhammadu Buhari had in 2019 removed Mr Onnoghen as the Chief Justice of Nigeria during the pendency of a charge against him at the Code of Conduct Tribunal.

However, at Thursday’s proceedings in the appeal, counsel to CJN, Dr Ogwu Onoja, SAN, informed a three-member panel of the Appeal Court that the two parties were involved in discussions on a peaceful resolution of the dispute.

Mr Onoja informed the court that the parties had an engagement up until Wednesday and expressed optimism that the discussion would bear fruitful results.

He subsequently appealed to the appellate court for a one-month adjournment for final settlement of the matter.

Counsel to federal government, Tijani Gazali confirmed the submission of Onoja and requested that the matter be shifted for a possible amicable settlement.

“My Lords, I wish to humbly confirm the information. It is our position to settle the matter out of court,” he said.

Justice J. O. Oyewole, who presided over the proceedings, directed them to file terms of settlement for adoption when eventually agreed upon.

Justice Oyewole held that the terms of settlement must be documented and filed before the adjourned date for the court to adopt as its judgement in the matter.

He subsequently adjourned until Nov. 4 as the return date for the two parties.

Mr Onnoghen was prosecuted in 2019 by the federal government on false declaration of assets at the Code of Conduct Tribunal(CCT) he was pronounced guilty and removed from office.

He was also made to forfeit the undeclared assets to the federal government.

Mr Onnoghen not satisfied with the judgment of CCT appealed, praying the Court to set aside the judgment that removed him from office and ordered the forfeiture of his five bank accounts.
NAN

The National Examinations Council, NECO, has released the June/July 2024 Senior School Certificate Examination results (SSCE), with 60.55 per cent of candidates securing five credits and above in English Language and Mathematics.

The Registrar of NECO, Prof. Dantani Wushishi, disclosed this while addressing newsmen at the NECO headquarters on Thursday in Minna, Niger.

Mr Wushishi said that a total of 1,376,423 candidates, representing 706,950 males and 669,473 females, registered for the exam.

The registrar said that 1,367,736 candidates sat for the examination, representing 702,112 Males and 665,624 females.

He said that 828, 284 candidates had five credits and above, including English and Mathematics, representing 60.55 per cent.

Mr Wushishi said that the number of candidates with five credits and above, irrespective of English and Mathematics, were 1,147,597, representing 83.90 per cent.

He said that there was a great reduction in the number of examination malpractices this year compared to 2023.

“The number of candidates involved in various forms of malpractice in 2024 is 8,437 as against 12,030 in 2023, which shows a reduction of 30. 1 per cent,” he said.

The registrar, however, said that 40 schools were found to be involved in mass cheating during the examination.

” During the conduct of the 2024 Senior School Certificate Examination (SSCE), 40 schools were found to have been involved in whole school (mass) cheating in 17 states.

” They will be invited to the Council for discussion, after which appropriate sanctions will be applied.

“A school in Ekiti was recommended for de-recognition for mass cheating in two core subjects and 01 Science subject.

” Similarly, 21 Supervisors were recommended for blacklisting due to poor supervision, aiding and abetting, abscondment, extortion, drunkenness and negligence in 12 states,” he said.

He urged candidates that sat for the examination to visit NECO website to access their results.

Mr Wushishi said candidates can access their results on NECO website: www.neco.gov.ng using their examination registration number,” he said.
NAN

The Inspector-General of Police, IGP Kayode Egbetokun, has approved the deployment of four new Police Commissioners to oversee Commands in Abia, Lagos, Ebonyi, and Akwa-Ibom State.

The newly appointed Commissioners are CP Danladi Nda (Abia State Command), CP Olanrewaju Ishola Olawale (Lagos State Command), CP Anthonia Adaku Uche-Anya (Ebonyi State Command) and CP Festus Eribo (Akwa-Ibom State Command).

These deployments reflect the IGP’s mission to reposition the Police Force, maximize human resources, and enhance security across the country.

In a statement issued on Wednesday, Egbetokun charged the new Commissioners of Police to demonstrate diligence in their duties and develop innovative strategies to address security challenges in their respective areas.

He also encouraged them to support the ongoing police reform plans, which will contribute to the progress of the Nigeria Police Force and the nation’s growth.

This move is reminiscent of previous redeployments, such as the 2023 election duty redeployment of senior police officers, including AIG Abutu Yaro and CP Okon Effiong. The Nigeria Police Force remains committed to ensuring effective policing and maintaining public safety.

On the other hand, the IGP has mandated the immediate transfer of Police Commissioners to different areas.

This tactical decision is designed to improve the Police Force’s performance and guarantee successful law enforcement.

Naija News understands that the transfers will involve the following adjustments: CP Olatunji Disu will lead the Police Force in the Federal Capital Territory, with CP Peter Opara moving to Delta State to become its new head. At the same time, CP Abaniwonda Olufemi will become the leader of the Police Force in Rivers State.