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Regulators commend CVB for hosting consumers value awards

By Chijioke Iremeka

10 September 2022   |   4:53 am

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Regulators in the country have commended Consumers Value Broadcasting Ltd., for organising the Consumers Value Awards (CVA), saying the programme would enhance the conversations around consumers’ eco-system.

Regulators in the country have commended Consumers Value Broadcasting Ltd., for organising the Consumers Value Awards (CVA), saying the programme would enhance the conversations around consumers’ eco-system.

The regulators, which were present at the maiden edition of the award held in Lagos, said the CVA could stimulate consumer’s interest by demanding the type of quality they are entitled to in the marketplace.

Some of the regulators in attendance included Nigerian Communications Commission (NCC); Federal Competition and Consumer Protection Commission (FCCPC); National Food Drug Administration Control Agency (NAFDAC); and Advertising Regulatory Council of Nigeria (ARCON).

The Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, in his goodwill message to consumers said the commission was delighted to be part of such event, especially bearing in mind the impact of such awards would have on the organisations.

He said the Commission champions the consumer-centric initiatives to ensure that consumers are aware of their rights and to know how to protect those rights when they are being infringed upon.

Also speaking at the event, Executive Vice Chairman/Chief Executive Officer (CEO), FCCPC, Babatunde Irukera, said it was gratifying that the Award aims at validating what gives the consumers value and addressing certain misdemeanors in the marketplace.

He added that FCCPC was in support of the Awards on the premise that in a developing society, it is critically important to help people recognise and demand what is appropriate, hoping that CVA could stimulate people’s interest to demand the type of quality they are entitled to in the marketplace.

More so, the Director General of NAFDAC, Prof. Christianah Mojisola Adeyeye, in her goodwill message, congratulated the company for the maiden edition of the award and urged that the efforts be sustained and improved on towards attaining greater heights.

She also stated that the choice of the theme, ‘The Power Of The Consumers Based On The Premise That Consumers Voted For The Brands’ Encounter/ Experiences,’ was apt and germane as a proactive measure to enlist mass awareness of consumers to their right as consumers.

She added that NAFDAC was proud to be associated with the initiative because NAFDAC as a regulatory agency prides itself in promoting consumer confidence by ensuring that the regulated products for consumer consumption are of good quality, safe and wholesome.

The Registrar, ARCON, Dr. Lekan Fadolapo, in his goodwill message, corroborated the other regulators in commending the organisers of the award. He said as advertising regulators, it is appropriate to ensure that the messages of the product owners match the experiences of the consumers.

“The consumers’ expectation is derived from the messages from the manufacturers and thus the Consumers value award is a welcome attempt to also provide feedback to the manufacturers,” she said.

Whilst welcoming guests to the event, Chairman of Consumers Value Broadcasting, Chief Adedayo Ojo, said in Nigeria’s business environment, consumers are already inundated with almost too much hype, publicity and promotions, some of which are not approved by the regulatory authorities.

He said, “This situation throws up an opportunity for some guiding light to help navigate through the labyrinth. It is our mission to provide the required guiding light and deliver value that would make brands, products and services more accountable to consumers.

“What sets the Consumers Value Awards apart is that consumers decide on who wins. Therefore, our role as organisers is restricted to facilitating the conversation between products, services, brands and consumers. More importantly, we are committed to doing these transparently, ethically and with integrity.

“Over 25 brands were rewarded by consumers with the badge of honours as the Best Value for money brands in various sectors of the economy.”