The director-general of the National Agency for Drug Administration and Control (NAFDAC), has called on Nigeria's banks not to open letters of credit (L/Cs) for imported drugs and pharmaceutical raw materials without the agency's clearance.

Dora Akunyili made the call in an address delivered at a Standard Trust Bank (STB) sponsored national workshop in Lagos earlier this month for bank chief executives and heads of foreign exchange departments in financial institutions. They were urged by the director-general to build business relationships only with importers of genuine drugs and regulated products.

Endorsement

Akunyali's call was endorsed by no less than the Nigerian president's wife, Stella Obasanjo. As well as urging banks to request for NAFDAC certification prior to opening L/Cs, she said banks should seek the agency's clearance before lending money to Nigerian drug producers and traders.

Mrs Obasanjo, who takes a personal interest in the issue of fake and adulterated drugs, said bankers should play an important role to play in establishing a strong and protective regulatory environment.

The president's wife stressed however that NAFDAC is charged with the task of providing information adequate enough for parties to a business transaction to distinguish between fake and regulated products.

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