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Rite Foods Seeks Court Order to Send NBC Boss to Prison

Rite Foods Limited, a Nigerian Foods and Beverages Company, has filed an application of committal against the Nigerian Bottling Company (NBC) and its managing director at a Federal High Court in Lagos for contempt of court.

The Rite Foods’ application for committal states that the contemnors, the NBC and Mathieu Seguin, its managing director, have disobeyed interim injunctions granted by Hon. Justice A. Aneke of the Federal High Court on February 9, 2021.
This is in accordance with the case of trademark infringement and passing-off of its Predator energy drink on the mark of Rite Foods’ Fearless Energy drinks, with the likely intent of confusing consumers to make the wrong choice.
In the application for committal, which was published in ThisDay and Guardian Newspapers of April 6, 2021, the plaintiff, Rite Foods, is seeking an order committing the contemnors to purge themselves of the contempt of court.
The court papers filed by Rite Foods through Muyiwa Ogungbenro of Olajide Oyewole LLP, its lawyer, showed that the court would be moved at the instance of Rite Foods for an order committing the contemnors to prison for disobeying a court order.
According to the application of committal in both national newspapers, the NBC and its MD are restrained from promoting or using any material for its Predator energy drink in a manner that infringes or passes off Rite Foods’ Fearless energy drinks.
The documents also states that NBC and its MD are in breach of the court order for failing to remove from public domain, promotion materials already released, including those released through Taaooma.
It further mentioned that the NBC’s boss is responsible for the company’s breach of the court orders, as Rite Foods alleges that Seguin has the power to command its obedience.
On Form 48 of the Federal High Court, as published on March 19, 2021 in ThisDay and Guardian Newspapers, there was a notice of consequences of disobedience of order of court issued to the NBC’s MD and exparte order restraining the company from 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 injunction is determined.
In the suit No: PHC/L/CS/92/2021, the plaintiff, Rite Foods Limited, alleged that NBC has infringed on its trademark over its Predator energy drink, with a lion insignia in resemblance of the mark on its Fearless energy drinks.
The alleged trademark infringement, according to Rite Foods, has damaged its goodwill and it is seeking reliefs which include injunctions and damages for its loss.
According to the provision of the Trade Marks Act, Cap T 13, Laws of the Federation of Nigeria 2004 and the Trademark Regulations 1990, the alleged 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.
The Plaintiff Rite Foods’ Fearless energy drinks, which consist of the Red Berry and Classic brands, were launched into the Nigerian market in June 2017 and has gained a wider market share before the NBC’s Predator brand which made entrant in June, 2020.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
News
Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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