NBC in Lawsuit over its Predator Energy Drink Trademark Infringement Allegation

The Nigeria Bottling Company (NBC) has been dragged to court for alleged trademark infringement on its energy drink, Predator, with a mark similar to the well-liked market leader, a product of Rite Foods Limited.

As contained in the ThisDay and Guardian newspapers editions of Friday, 19th of March, 2021, contempt proceedings have been commenced against the managing director of NBC by Rite Foods Limited at Federal High Court, in koji, Lagos.

Trademark Infringement: NBC Sued over Trademark infringement Activity, Likely to Confuse Consumers, Applicant Alleged

In the suit No: FHC/L/CS/92/2021, the plaintiff, Rite Food Limited, filed a motion ex parte of an interim injunction against the defendant, NBC, restraining it from further promoting or using any sales promotion material for its Predator energy drink in a manner that infringes or passes off or that is capable of infringing or passing off the plaintiff’s Fearless energy drink until the interlocutory application for an injunction is determined.

The infringement is against the holder’s right of Rite Foods Limited, as the exclusive owner of the mark for identification of its products within the country.

Investigation reveals that the Rite Foods’ Fearless energy drinks, which consist of the Red Berry and Classic brands, were launched into the Nigerian market on June 15 and 16, 2017, respectively, and has gained a wider market share before NBC’s Predator, which made entrant in June 2020.

Rite Foods pointed out that with the infringement by NBC, consumers are likely to assume (mistakenly) that the aforementioned energy drinks in the case are from one source.

According to it, the degree of similarity between the lion symbol on its Fearless brands and NBC’s Predator energy drink is high, and that since both compete in the same market spectrum, the mark is likely to cause confusion in the minds of consumers, about the source or sponsorship of the brands offered under the defendant’s mark.

Further proceedings for the case at the Federal High Court are slated for March 25, 2021.

However, while the Predator brand is struggling to gain acceptance among consumers, Rite Foods’ Fearless energy brands have attained a very high market share of the lucrative beverage market, cutting across the different demographics, mainly the youth segment.

The Fearless brands provide consumers with limitless benefits and contain high-quality ingredients.

The energy drinks contain Vitamin B6, a water-soluble nutrient that is part of the vitamin B family, which supports adrenal function, help calm and maintain a healthy nervous system, and are necessary for key metabolic processes. Also, included is Vitamin B12 which is essential for building blood cells and maintaining healthy nerve cells in the body.

Few cases of trademark infringements in the country were those of Nabisco Inc., v Allied Biscuits Company Limited in 1998, where the trademark RITZ was the issue before the court.

Allied Biscuits first registered the mark eight months before Nabisco, and the court held against the appellant, Nabisco, on the premise that it has not used the mark sufficiently to acquire a reputation for the mark in Nigeria, that its intention is to destabilise the Nigerian market and her economy.

Also on October 18, 1993, Pfizer dragged Iyke Merchandise to Court for infringing on its trademark, Combatrin Plus, with the mark, Combatinrein, which was likely to confuse consumers.

The plaintiff’s (Pfizer) action for injunction, order of delivery up for the destruction of the infringing product (Combatinrein) and general damages succeeded.

Advans La Fayette Expands Reach, Unveils Products For MSMES And Individuals

Advans La Fayette Microfinance Bank, a leading international microfinance institution with a national CBN license has expanded its Nigeria market with the unveiling of a new Lagos office – Ikorodu branch, increasing access to its range of quality and reliable financial products for MSMEs and individuals in the country.

The Advans Group has banking services trusted by over a million clients in 9 African and Asian countries (Cambodia, Cameroon, Ghana, Congo (DRC), Ivory Coast, Myanmar, Tunisia, Pakistan, and Nigeria).

In Nigeria, the bank started full operation in February 2013 and has built a strong client base and strong financial services experience, being able to answer to all the financial needs of micro, small and medium scale businesses.

Speaking on the bank’s expansion drive at the event in Lagos, on Monday March 22, 2021, the Managing Director/CEO, Gaetan Debuchy said,

“It is always a great pleasure to launch a new branch. Ikorodu branch is our 16th branch in Nigeria, and the 4th in Lagos. As we continue our network expansion in 2021, we plan to open 9 new branches! Our objectives are to be closer to businesses, serve more clients effectively, and have more positive impact on Nigerian businesses’’. ‘‘I invite all business owners in and around Ikorodu to join us and experience our quality service.”

Debuchy went on to say that customers are at core of all their innovative solutions, such as: affordable individual and group loans for up to N75m with flexible collateral requirements, savings and term deposits with very high interest rates, secure debit cards, a reliable mobile app, insurance, mobile tellers, cheques, and Agency banking services (in collaboration with over 200,000 Opay/Paga partner-agents across Nigeria).

Also at the event were the Advans Nigeria Board Chairman, Mr. Grégoire Danel Fedou, the Deputy CEO, Mr. Jean-Luc Nzoubou, as well as other members of the Bank’s Management Committee, and the Press.

Mr. Nzoubou, quipped: ‘‘We have an ongoing savings promo called the Yakataa savings promo where anyone who opens a regular savings account between now and March 31st, 2021 will earn a double interest of up to 12%. There is also a VIP specialised service for High Networth Individuals across our major branches in Lagos, Kwara, Oyo and Ogun states. Our Client Relationship Officers are trained and trusted to provide you with relevant financial advisory to take your business to the next level. Our branches and Call Center are also open from Monday to Saturday every week to serve clients’’.

“All loans come with no prior savings requirements, flexible collateral, affordable interest rates charged on a declining balance. We also offer moratorium & flexible repayment plans, full insurance cover on all loans, and a dedicated Client Officer, to monitor your business for growth in all stages of the loan cycle”. He added.

Advocating For Nigerian Media Monitoring And Measurement Association (NiMMA)

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One revolution that happened in the public relations ‘sector’ is the reality that there are now Independent PR measurement and evaluation consultancies who can prove Public Relations ROO (Return on Objective) for good.

Over the years, measuring the true value of Public Relations has been the biggest challenge for the marketing communicator. Yes, indeed. Before the arrival of Independent PR measurement services, it used to be so nightmarish to calculate PR value with a 360 degrees approach.

Put literally, PR measurement and evaluation is investigating to see whether you met your set objectives and overall goal just as you promised in your strategic communications plan.

Today, there is wider recognition that public relations programmes can be measured and that there is strength in doing so. What this means is simple. It means that every communication professional whether in the kindergarten or expert level should be an advocate for measurement without necessarily seeking to control or lead the process.

The Chief Insight Officer of leading and fastest growing Independent PR measurement and evaluation agency, Philip Odiakose was able to pluck a leaf from the law profession to put it simpler: “It is not right for you to be the accused, the judge and jury of your work.”

But wait a sec! Whose responsibility is it to measure whether a particular PR campaign sold or not? To get more insights on whose responsibility it is to audit ALL communications performance, kindly read, Who should measure PR?

Since measurement and evaluation programmes are part of a typical strategic communications plan, let’s just state the pain point right away – there is no Association of media monitoring and measurement for practitioners in Nigeria like it is in other climes. This is not just teary, it is also very unethical as the regular PR and advertising agencies have continued to accept media monitoring/traction briefs – the job of independent media monitoring and measurement experts.

In fact, if you offer a public relations measurement service in Nigeria or nurse the ambition to run a communications analytics business or even demand that PR demonstrates its value from time to time, then you should be bothered that the PR analytics industry does not have an Association of its own.

We all know the tremendous pressure about how people now demand that PR demonstrates its value. If this is a surefire, why is the industry still depending on sister associations like PRCAN and APCON to prove its own value?

P+ Measurement Services, a leading PR measurement and evaluation consultancy took a shot at this in 2016 (https://dailypost.ng/2016/10/21/championing-crusade-nigerian-media-monitoring-measurement-association-philip-odiakose/). The measurement expert shouted itself hoarse, asking stakeholders to enable the process. This is 5 years down the line and no association yet for the noble industry. Should we conclude that all the efforts were in futility? No.

Setting up a Nigerian media monitoring and measurement body will not only help to make the industry invincible but also help practitioners to champion their own cause and truly operate independently as they ought to.

Written By Queen Nwabueze

 

MPC Maintains Status Quo

At the end of the two-day bi-monthly MPC meeting, all policy levers were maintained following a unanimous vote of all members of the committee.

•    Monetary Policy Rate (MPR) – 11.50%
•    Asymmetric corridor around the MPR – +100/-700bps,
•    Cash Reserve Ratio – 27.50%, and
•    Liquidity Ratio 30.0%.

MPC Maintains Status Quo

Reckitt Benckiser Rebrands As Reckitt

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The new brand is designed to tell the story of the organisation’s purpose and its transformation, drawing on its rich 200-year heritage.

23 March 2021: Today the company announces that it has rebranded as Reckitt. The redevelopment of the corporate identity is a key milestone in the organisation’s ongoing journey of transformation towards sustainable growth. The new brand identity and iconography is more recognisable and is built on the company’s purpose: to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world.

Reckitt Benckiser Rebrands As Reckitt Brandspurng

Miguel Veiga-Pestana, SVP Corporate Affairs & Sustainability, said:

“The brand is a visible symbol of our corporate purpose and the change that has been taking

place across the business on our journey of transformation. The name reflects the existing widespread usage of Reckitt and is clearer, simpler and more memorable while retaining positive associations with the company’s heritage.”

Commenting on the new identity, Jo Osborn, VP Internal Communications and Corporate Brand, said:

“From Dettol to Lysol, Nurofen to Durex and Finish to Vanish, we sell more than 20 million of our trusted products to people every day, yet there is less recognition of the company behind those brands. Our new Reckitt identity will better enable us to communicate our corporate purpose to the world, and to do so in a way that is powerful, consistent and impactful.”

The comprehensive rebrand, including a new visual identity, was created and overseen by Havas’ branding agency Conran Design Group. Rolling out across all of Reckitt’s touchpoints and platforms – internal and external, physical and digital – from today, it comprises:

  • A new name and logo – the R at the heart of the symbol stands for our unity, strength and relentless pursuit, inspired by Reckitt’s purpose to protect, heal and nurture. It denotes Reckitt’s role in the world as a partner and a catalyst for positive transformation. The shell-like quality of the symbol evokes a sense of protection and a reference to the natural world.
  • An evolved colour palette – the highly distinctive and recognisable ‘Energy Pink’ is Reckitt’s primary brand colour, signifying its perpetual energy – while secondary colours reflect its portfolio of products and connection to a cleaner, healthier world.
  • Bespoke typography – a new, bespoke typeface ‘Energy’ is distinctive, accessible and unique to the Reckitt brand.
  • Photography – new photography principles and categories illustrate how everything Reckitt does is connected and has an impact on the world. Authentic, accessible and active imagery will show how change starts with an individual, the tangible impact

Reckitt has on people’s lives, the strength of its partnerships and its understanding of a changing world.

The implementation of the new brand will be delivered over a three-year timeline, using the natural replacement cycles of the business to manage an impactful transition in a cost-effective way.

Commenting on the brand redesign, Thom Newton, CEO, Conran Design Group said:

“Reckitt has a compelling story to tell. The new Reckitt brand both reflects its 200-year history and provides an active expression of its purpose and ambition. The opportunity to work with the company to redevelop and launch the new brand was an opportunity we relished.”

Reckitt is the company behind some of the world’s most recognisable and trusted consumer brands in hygiene, health and nutrition, including Air Wick, Calgon, Cillit Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet, Woolite and more.

3 Reasons Why People Are Becoming Interested in Forex Trading

Let’s be completely honest, there is no need to look too hard to find reasons that explain why forex trading has become so popular across the globe. The pandemic was bad news for almost every industry around the world, including the forex markets. However, even when the market was depreciating it still offered many opportunities for traders to make money. Moreover, the forex market is now rising and gives a number of reasons to the investors and traders to look at the forex market carefully for money-making opportunities.

Moreover, it is not that difficult to enter the forex markets as a trader. For instance, the Cayman Islands is quickly becoming one of the biggest and very famous offshore financial center. With the right broker, you can start trading even with a small investment. However, we suggest that you always choose a broker or a trading platform that is licensed in order to avoid frauds and scams. Here is a list of forex brokers licensed in Cayman. There is no room for doubt when it comes to the popularity or competitiveness of the forex markets, however, you might be wondering what has caused this increased interest in the forex markets. Here are 3 reasons that should answer that question for you.

3 Reasons Why People Are Becoming Interested in Forex Trading Brandspurng
1. It can be a lucrative side gig

As this is known as the digital age, there are now many different ways to earn a little extra money. The kind of work that you can do can range from selling your products directly to customers online to creating a money-spinning blog or even a YouTube channel. You could also add forex trading to this list. Recent technological advancements can help make things easier and simpler for you. For instance, with the help of a forex trading app, you can perform trades with just a mobile phone device and an internet connection. Anyone can try their hand by investing in the currency.

Not only has the forex markets become more accessible over the years, but many online brokerage sites and platforms have also made it easier for traders to perform trades with the help of different tools. It has never been this easy to make profits through forex trading. More importantly, many platforms and brokers offer a forex demo account that the users can access without having to invest any money. A demo account will simulate real-time market conditions and allows users to try their strategies in an entirely risk-free environment.

2. Learn within a community of trading

Not everyone has heard of social trading. However, you should know that the forex market is now home to a huge bustling digital community that’s packed with considerable insight, experience, and know-how.

Moreover, there are even dedicated social trading platforms where the traders can work together, share trading strategies. For instance, someone who knows more about the markets can explain how leverage is so risky. Experienced and skilful traders can share their experiences and offer help to less experienced traders in the world of forex trading. This is great news for anyone who is looking to start trading. Inexperienced traders can take advantage and act smart as they take on the forex markets.

3. Allows you to make money even in a depreciating market

Another very important advantage of trading forex that you should remember is that it revolves around the status of currency as a derivative asset class. This allows traders to effectively trade currency pairings without becoming the owner of the underlying asset, creating a situation where users can speculate on price movements and make a profit even when the value of the market is declining.

Needless to say, this plays a huge role in the growing appeal of the forex market. There are more opportunities for individuals to make profits regardless of the market conditions or what anyone else might say.

Airtel Sells Telecommunications Tower Companies In Madagascar And Malawi For $108m

Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the signing of agreements to sell its telecommunications tower companies in Madagascar and Malawi to Helios Towers plc (the “Purchaser”), a leading independent telecommunications infrastructure company in Africa (together, the “Transactions”).

The Group’s tower portfolios in these two markets together comprise 1,229 towers which form part of the Group’s wireless telecommunications infrastructure network.

The Transactions, comprising two separate agreements, one in respect of each jurisdiction, are subject to customary closing conditions including required regulatory approvals and are not inter- conditional on each other. The Transactions are expected to close in or around calendar Q4 2021.

The aggregate gross consideration for the Transactions is expected to be approximately $108m. Under the terms of the Transactions, the Group’s Airtel Africa’s subsidiaries will continue to develop, maintain and operate their equipment on the towers under separate lease arrangements, largely made in local currencies, with the Purchaser. I

n addition, as part of the Transactions, the Group has agreed to build to suit commitments with the Purchaser for an additional 195 sites across Madagascar and Malawi over the three years following completion, for which a further $11m of consideration is payable.

In addition, Airtel Africa has entered into exclusive Memorandum of Understanding agreements for the potential sale of its tower assets in Chad and Gabon to the Purchaser (the “Proposed Transactions”). The Proposed Transactions are subject to the signing of definitive legal agreements for sale, including customary closing conditions such as required regulatory approvals.

It is envisaged that the Proposed Transactions will also incorporate lease arrangements with the Purchaser and build to suit commitments in Chad and Gabon. The Proposed Transactions are not inter-conditional and are expected to close before the end of our fiscal year 2022.

The Group expects to disclose consideration details for the Proposed Transactions upon signing of the acquisition agreements in each market.

The Group’s tower portfolios in the two markets of the Proposed Transactions together comprise c.1,000 towers which form part of the Group’s wireless telecommunications infrastructure network.

The Transactions and the Proposed Transactions are the latest strategic divestment of the Group’s tower portfolio as it focuses on an asset-light business model and on its core subscriber-facing operations.

The proceeds from the Transactions and the Proposed Transactions will be used to reduce Group’s external debt and to invest in network and sales infrastructure in the respective operating countries.

The value of the gross assets the subject of the Transactions at 31 March 2020 was $93.7m and the profits before tax for the year to 31 March 2020 attributable to the assets the subject of the Transactions are $3.3m.

Raghunath Mandava, CEO of Airtel Africa, commented: “With these latest tower transactions we continue to demonstrate strong execution of our asset monetisation programme.

“Helios Towers has been a partner to our business in some of the OPCOs for many years and we look forward to further expanding this partnership with these new leases as we together seek to improve mobile connectivity and infrastructure across Africa.

“These transactions will also help to improve the mix of our debt and increase its tenor through long term leases, which are largely payable in local currency by our operating entities, while reducing foreign currency debt of the Group.“

Bond Yields Rise As The Market Size Up The MPC Meeting And Bond Auction Coming This Week

FGN Bonds

The bears dominated the FGN bond market opening the week as traders remained aggressively offered across the curve with very few bids to match. The weak appetite for FGN bonds despite the scarcity of short-term instruments can be attributed to the uncertainty surrounding monetary policy, which is also further compounded by the deep negative carry-on bonds at the moment (average FGN bond yields minus Inflation rate).

Most investors have resulted in staying at the short end of the curve, pending when there is more clarity in the interest rate environment. Yields consequently expanded by c.12bps on the average across the benchmark curve.

The outcome of the MPC meeting to be announced tomorrow is expected to give more clarity on the Apex’s view on the interest rate environment, coupled with the monthly FGN Bond auction right after, we expect investors to remain on the sidelines as the direction of rates becomes clearer later in the week.

Treasury Bills

The Treasury Bills market opened the week on a tranquil note, as bearish sentiments stayed firm, triggered by the depressed system liquidity. Bids remained scarce for most of the session, even on the 1-year OMO bill which had enjoyed the spotlight in the previous week, as local banks focused on their short-term funding positions in light of tight system liquidity.

However, we expect the market to remain order-driven this week, with a slight bearish bias as market participants seek to take profit on their positions towards month-end.

Money Markets

Despite rates coming down from the previous week’s high of 25% (the highest levels seen since July 2020), system liquidity remained tight extending the tightest month seen in the last 20 months. OBB and O/N rates closed at 14.50% and 14.75%, with some local banks relying on funding from the CBN Lending (Repo) window to funding their short cash positions.

With the FAAC meeting concluded, we expect system liquidity to ease up as c.N310Bn is expected to hit the system tomorrow.

FX Market

The I&E FX window opened the week on a muted note, as supply dropped by 44% D/D (c.$25.88mio traded) within the range of N401.00/$ and N412.00/$. The closing rated depreciated slightly, weakening by 0.03% to close at N410.13/$.

At the parallel market, the Naira made a positive move, as the transfer rate appreciated by N1.00/$ (0.20%D/D) to close at N494.00/$ while the cash rate remained unchanged at N482.50/$.

Eurobonds

The Eurobonds space started the week at a different pace, as we saw primary market moves being made across the SSA space. Finance ministers for both Nigeria and Ghana announced intentions for both countries to tap the Eurobond market for new issues. On the corporate side, Seplat Petroleum Development Company announced the bankers to its proposed 5-year new issue, which the company will use to refinance its existing SEPLLN 2023 papers at current lower rates.

The market showed mixed reactions to the impending supply from the proposed new issues. The NIGERIA Sovereigns curve reacted negatively, with yields expanding by c.4bps on the average across the sovereign curve. The NIGERIA Corps on the other hand has a positive trading session, with demand seen across most of the tracked papers.

Champions League Round Of 16 Phase Concludes With Thrilling Ties As Heineken Launches ‘You’re Never Watching Alone’ Campaign

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The world’s most prestigious club competition, the UEFA Champions League, returned to our screens with an entertaining start to the knockouts phase.

The Round of 16 phase featured exciting and unpredictable fixtures which saw Chelsea, following their 3–0 aggregate win over La Liga leaders, Atletico Madrid, join Bayern Munich, Manchester City, Liverpool, Real Madrid, among others in the quarter-finals.

Heineken, proud sponsors of the competition for over 25 years, were once again at the heart of the conversations, delighting football fans across the world and especially in Nigeria with exciting online and offline experiences.

In the 2019/2020 season, the brand sought to foster conviviality and togetherness amongst football lovers with its “Better Together” campaign. This season, Heineken seeks to build on the success of the previous theme with another reflective theme titled ‘You’re Never Watching Alone’, a campaign aimed at reassuring football fans that regardless of boundaries and current realities, they are never watching alone.

Expressing her excitement with regards to the success of the brand’s activities during the Round of 16 phase was Aishat Anaekwe, Senior Brand Manager, Heineken:
“During the round of 16 phase of the Champions League, we sought to complement the spectacle of the competition with fun activities for Nigerians across all channels — online and offline. I’m proud to say it was largely successful due to how well-received the activities were by football fans. Their reception has motivated us to deliver even more premium experiences as the competition progresses” she said.

The activities saw the brand tour cities in the East such as Onitsha and Enugu, exciting football fans with the best of music, giveaways, and other attractions during the UEFA Champions League Experience nights hosted by e-sports fan, VJ Adams. According to him, “Touring these cities has been one of the most exciting things I have done in months.

The passion Nigerians have for football is unrivalled and I’m glad Heineken recognised this and put this together for them. I can’t wait to take this experience to other cities.”
On social media, the brand also connected with consumers by staging the UEFA Champions League Trivia Nights, from which fans were rewarded with exclusive Heineken merchandise every match day.

With a global reach of more than a billion every season, the UEFA Champions League is undoubtedly one of the biggest football competitions in history. The startling game experiences produced in the Round of 16 phase portrays the excitement of the competition, with Porto staging a fantastic underdog win against Juventus and Olivier Giroud, of Chelsea scoring from an outrageous overhead kick against Atletico Madrid in the first leg of the tie.

With the quarter-finals of the competition in view, Heineken has promised to increase the scale of its campaign with more exciting activities, more rewards, and more opportunities for the fans to connect and share their passion.
The UEFA Champions League resumes again on April 6 with the quarter-finals stage.

FG, States, LGAs share N528.39bn FAAC allocation in Jan 2021

The Federation Account Allocation Committee (FAAC) disbursed the sum of N619.34bn to the three tiers of government in December 2020 from the revenue generated in January 2021.

The amount disbursed comprised of N437.26bn from the Statutory Account, N3.83bn as Exchange Gain Difference, N6.90bn from Distribution of FOREX Equalisation and N171.36bn from Valued Added Tax (VAT).

Federal Government received a total of N218.30bn from the N619.34bn. States received a total of N178.30bn and Local Governments received N131.79bn. The sum of N31.83bn was shared among the oil producing states as 13% derivation fund.

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N6.99bn, N10.43bn and N6.36bn respectively as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N146.33bn was disbursed to the FGN consolidated revenue account; N3.69bn shared as share of derivation and ecology; N1.85bn as stabilization fund; N6.20bn for the development of natural resources; and N5.22bn to the Federal Capital Territory (FCT) Abuja.