By Adedapo Adesanya

The Lagos State Consumer Protection Agency (LASCOPA) has raised concerns over the circulation of adulterated palm oil in markets across the state, warning residents to be cautious when purchasing the product.

General Manager of LASCOPA, Mr Afolabi Solebo, said complaints from consumers and market surveillance operations revealed that some traders were selling contaminated and artificially enhanced palm oil to unsuspecting buyers.

According to him, the adulterated products may contain harmful substances such as candle wax, chemicals, dyes and other impurities capable of causing serious health complications.

Mr Solebo warned that consumption of such products could lead to food poisoning, stomach disorders, tissue and liver damage, as well as other long-term health risks.

He advised consumers to examine palm oil carefully before purchase by checking for unusual colour, offensive odour, excessive thickness, sediments or any suspicious appearance that may suggest contamination.

The LASCOPA boss also urged residents to patronise only trusted vendors and insist on quality products at all times, according to a statement shared on X (formerly known as Twitter).

While reaffirming the state government’s commitment to consumer protection, Mr Solebo disclosed that the agency had sealed a shop allegedly selling adulterated palm oil at Idutafa Lane, off Oluwa Street near Amodu Tijani Oluwa Mosque in Lagos Island Local Government Area.

He warned traders and distributors involved in the sale of adulterated palm oil to desist immediately or face sanctions in line with consumer protection laws in the state.

The agency further appealed to members of the public to report suspected cases of adulterated food products, deceptive trade practices and other consumer rights violations through its official communication channels for investigation and enforcement action.

LASCOPA added that it would continue market monitoring and consumer sensitisation efforts to ensure residents have access to safe and quality products across the state.

By Modupe Gbadeyanka

The National Agency for Food and Drug Administration and Control (NAFDAC) has declared that Bon Bread, which had created a controversy after a review by a consumer over a month ago, is safe to consume.

In a statement signed on Sunday by the Director General of NAFDAC, Mrs Mojisola Adeyeye, it was stated that investigations conducted on the safety of the product confirmed that it was not harmful.

A woman named Ms Love Dooshima had posted a video on social media last month claiming that one of the breads in her possession remained free from mould for some weeks, questioning this abnormally.

In her video, she did not mention the name of the bread, but Bon Bread claimed she liked comments mentioning its name in the post, triggering a lawsuit.

In the statement on Sunday night, NAFDAC said it conducted an inspection of the company’s bakery facility in Abuja and collected bread samples from both the production site and the open market for laboratory analysis.

It was revealed that the bread contained calcium propionate, an approved preservative commonly used in bread production, within the permissible limits specified by the Codex Alimentarius, the internationally recognised food standards framework.

According to the agency, the manufacturer of Bon Bread, Food & Food Integrated Company Limited, is in compliance with regulatory standards.

It was stated that although the complainant did not identify the brand, the manufacturer of Bon Bread responded publicly, stating that the product in question was theirs and that the allegation was misleading.

“Laboratory analysis further confirmed that the bread samples did not contain objectionable substances, including bromate or non-nutritive sweeteners.

“NAFDAC also confirmed that the company has maintained regulatory compliance since commencing operations in 2006 and has successfully undergone several licence renewals without penalties or product recalls,” parts of the statement read.

NAFDAC assured “the public that Food & Food Integrated Company Limited is not in violation of any NAFDAC regulation,” encouraging consumers “to report concerns relating to regulated products through any NAFDAC office nationwide or call the agency’s call centre to enable prompt and evidence-based investigation of complaints.”

By Adedapo Adesanya

Redtech, a technology company backed by Heirs Holdings, has been named in the Financial Times (FT) Africa’s Fastest Growing Companies 2026 list.

The Tony Elumelu-backed startup ranked 32nd out of 130 high-growth companies and also secured a position among Africa’s top 15 fastest-growing fintech companies in its debut appearance on the annual FT/Statista ranking.

Produced by the FT in research partnership with Statista, the ranking identifies Africa’s fastest-growing companies based on compound annual growth rate (CAGR) in revenue between 2021 and 2024. Companies also had to meet additional criteria, including minimum revenue thresholds, independence and primarily organic growth. Redtech’s inclusion provides independent validation of its growth as an African payment infrastructure company.

The recognition comes as Redtech’s flagship platform, RedPay, continues to scale across physical and digital payment channels. Through RedPay, the company enables businesses to collect, process, confirm, reconcile, disburse, and manage funds through secure, scalable technology built for African commerce.

Last week, the company announced a rare fintech-bank-telco alliance with MTN’s mobile fintech unit and UBA, to expand cardless payment access for consumers and merchants across Nigeria.

Speaking on the development, Mr Elumelu, the Group Chairman of Heirs Holdings, said, “Africa’s next growth era will be powered by entrepreneurs, enterprises, and the infrastructure that enables them to succeed. Redtech’s recognition among Africa’s fastest-growing companies demonstrates what is possible when we invest in solutions built for Africa’s realities. Through RedPay, Redtech is helping merchants, fintechs, and financial institutions transact with greater speed, security, intelligence, and control. This is Africapitalism in action: building profitable, sustainable businesses that create prosperity across Africa.”

The numbers have also backed up Redtech’s growth. This is visible across four strategic areas, including a boost in transaction as the company processed $27 billion (N37.2 trillion) to date, more than three times the over $8.9 billion (N12 trillion) processed by the end of 2024; it has deployed 55,000 RedPay POS terminals within 16 months across merchant locations in Nigeria, supporting payment acceptance across sectors including hospitality, energy, banking, fintech, retail, utilities, and enterprise services; while its infrastructure supports payments in five UEMOA countries – Benin, Burkina Faso, Côte d’Ivoire, Mali, and Senegal.

Redtech operates with key regulatory approvals, including licences from the Central Bank of Nigeria as a Payment Terminal Service Provider (PTSP), Payment Solution Service Provider (PSSP), and Super Agent, enabling the company to provide POS, payment gateway, and agency banking services. The company also holds relevant Nigerian Communications Commission (NCC) authorisation for communications-enabled value-added services.

As part of its growth roadmap, Redtech is working to expand its payment infrastructure capabilities across African markets, with a long-term ambition to support merchant collections and financial technology services in 29 African countries within the next year.

Adding his input, Mr Emmanuel Ojo, CEO of Redtech, said: “Redtech’s inclusion in the Financial Times Africa’s Fastest-Growing Companies ranking recognises the infrastructure we are building and the African businesses that rely on it every day. At Redtech, growth is not only about transaction value or market reach; it is tied to a belief that when African businesses have payment systems they can trust, they are better placed to trade, serve customers and expand with confidence.

“That is the Heirs Holdings Africapitalism philosophy in practice – private-sector execution building the rails for African prosperity. Our focus is on strengthening the infrastructure that allows businesses across the continent to collect, pay, and grow.”