Nigerian Breweries Reacts to Corruption Allegation

Nigerian Breweries Plc has reacted to the allegation that the company protected Nico Vervelde, its Dutch Chief Executive Officer suspected of corruption.

In a notice sent to the Nigerian Stock Exchange, the company's Corporate Affairs Director, Heineken, Sade Morgan "Nigerian Breweries Plc is aware of the recent publication by an online news platform about an alleged incident that occurred in early 2017.

"At HEINEKEN, we do not tolerate bribery or corruption at any level. If an allegation emerges, a thorough investigation is carried out to establish the facts and, if necessary disciplinary action is taken -  regardless of the role or position.

"In this case, we took exactly that approach and moved quickly to comprehensively address the issue", part of the statement reads.

"Both the Board of Nigerian Breweries and HEINEKEN conducted an internal and external audit and investigation.

She concluded that "the Board and Management of Nigerian Breweries Plc remain committed to upholding Nigerian Laws and managing our operations in the most responsible and compliant way."