By Naomi Uzor
GlaxoSmithKline Nigeria Plc (GSK) has launched a new product called Cafenol Extra.Speaking during the public presentation of the product, the Managing Director of the company, Mr. Sameer Goel said that Cafenol Extra was developed after years of research and innovation.
â€To improve the quality of human life by helping people do more, feel better and live longer, we have brought the trusted heritage of Cafenol of over 30 years to bear in the formulation of Cafenol Extra.â€
He explained that Cafenol Extra has been specially formulated to contain triple active ingredients, and they are paracetamol, acetylsalicylic acid 4 and caffeine.
These triple active ingredients work together to produce powerful triple action effect against – headache, backache and rheumatic painâ€ he explained.
He applauded the Northern market for its overwhelming patronage of Cafenol. â€œIt is to pay tribute to Kano in particular and the entire northern states of Nigeria in general for their acceptance and usage of Cafenol over the years. That trusted Cafenol which has been an integral part of the way of life for most northerners â€“ helping to make pain go fast- has today given birth to a new variant (if you like , a new baby) known as Cafenol Extra,â€ he enthused.
The Marketing Director of GSK, Mrs. Hannah Oyebanjo noted that research has shown headache, backaches and rheumatic pain as the most frequently suffered pains among Nigerian adults and that she is optimistic that the introduction of the product will help ameliorate this heavy burden in Nigeria and put the very hardworking and industrious Nigerians back on track, without the worries of pain.
According to GSKâ€™s Marketing Manager, OTC, Mr. Charles Emakpose, the dosage is packaged in easy to swallow capsules to ensure patients compliance and optimum results and it is useful in each of the three steps of WHO analgesic ladder approach â€“ whether in Mild pain, or as an adjuvant in Moderate and Severe pains.
Bank Crisis: NACCIMA, LCCI React
Industrialists are now jittery over slow funding of the manufacturing sector of the economy by the commercial banks. Investigation conducted by Financial Vanguard, showed that out of the N1.143 billion non-performing loans of the five banks whose chief executives were recently axed by the Central Bank of Nigeria, industrialists are indebted to the tune of N53 billion .
The source disclosed that operators are now afraid that the aggressive drives for loan recovery by the banks coupled with the lingering crisis may halt or trigger slow lending to the real sector for the next six months and beyond.
The source disclosed that about 12 companies in the industrial sector are currently indebted to the five banks. Topping the list are manufacturers in the textile, cement, fertilisers and foods industries as well as agro allied industries.
Reacting to the issues, President the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), and the Lagos Chamber of Commerce and Industry (LCCI), however lauded the CBN for taking the decisive action.
NACCIMA President, Dr. Simon Okolo called on the authority of the apex bank to urgently put in place a stronger regulatory system to police the banking sector and reassure investors on the solidness of our banks. â€œNACCIMA wish to state that though commendable, the steps taken by the CBN to check crisis in the banking sector could trigger crisis of confidence in the short-term unless practical steps is taken to build confidence and prevent rush on the banksâ€ he said.
Corroborating, his LCCI counterpart, Asiwaju Solomon Onafowokan, said the CBN should muster courage to expedite action on the audit of the remaining 14 banks. He stated that the partial audit by the apex bank has created a suspense situation for banks that are yet to be audited and has in fact put some of them under stress.
According to him, the ideal thing was for the CBN to have completed the entire exercise before announcing the outcome. â€œWe, therefore, request the CBN to quickly conclude the audit process. The apex bank should also immediately make pronouncements that would give confidence and comfort to the depositors of the banks that are yet to be audited,â€ he said.d, according to the report filed July 17 with the House clerkâ€™s office.