Regulators commend CVB for Consumers Value Awards

By Ibidunni Banjoko

Nigerian Communications Commission (NCC), Federal Competition and Consumer Protection Commission (FCCPC), National Agency for Food and Drug Administration and Control (NAFDAC) and Advertising Regulatory Council of Nigeria (ARCON) have commended Consumers Value Broadcasting (CVB) in what can be described as an approval of the initiative of Consumers Value Awards which maiden edition was held recently in Lagos.

Chief Adedayo Ojo, Chairman of Consumers Value Broadcasting, whilst welcoming guests to the event, said consumers are already inundated with so much hype, publicity and promotions, some of which are not approved by the regulatory authorities. This situation, he stated, throws up an opportunity for some guiding light to help consumers navigate through the labyrinth.

“It is our mission to provide the required guiding light and deliver value that will 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 organizers 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,” Chief Ojo said.

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.

The four regulators in attendance at the maiden edition of the Consumers Value Awards remarked that the award is a commendable programme that will enhance the conversation of consumers within the brand and marketing ecosystem.

Professor Umar Garba Danbatta, Executive Vice Chairman of NCC, in his goodwill message stated that the commission is delighted to be part of the event, especially bearing in mind the impact that awards such as the Consumers Value Awards have on organizations.

He went further to state that the commission champions consumer-centric initiatives to ensure that consumers are aware of their rights and how to protect those rights whenever they are infringed.

Also speaking at the event, Babatunde Irukera, Executive Vice Chairman/CEO of FCCPC said that it is gratifying that the Consumers Value Awards aims to validate what gives consumers value and address certain misdemeanours in the marketplace.

He added that FCCPC is in support of the Consumers Value Awards on the premise that in a developing society, it is critically important to help people recognize and demand what is appropriate, while hoping that the awards can stimulate people’s interest to demand the type of quality they are entitled to in the marketplace.

Professor Christiana Mojisola Adeyeye, Director General of NAFDAC, in her goodwill message congratulated CVB on the maiden edition of the award and urged that the efforts be sustained and improved upon while 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 rights.

Dr. Lekan Fadolapo, Registrar of ARCON, in his goodwill message, corroborated the commendation of other regulators over the award.

He added that 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.”


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