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Important NAFDAC Regulations On The Registration of Bio-similars in Nigeria

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Biochemicals :- Important Provisions Of The NAFDAC Regulations on the Registration of Bio-similars in Nigeria

Rendered effective from 13/12/2021, the National Agency For Food and Drug Administration and Control (NAFDAC) guidelines forming the focus of this article are aimed at the general public and Nigerian pharmaceutical industries in particular.

As with other NAFDAC regulations, it is important to state that no medicinal product shall be manufactured,imported, exported advertised, sold or distributed in Nigeria without necessary registration in compliance with laid-down NAFDAC regulations.

We will then be looking at the notable provisions of these guidelines.

Definition of Terms

– Reference Biotechnology Product (RBP) :- A product used as the comparator for head-to-head comparability studies with a Bio-similar in order to show similarity in terms of quality, safety and efficacy which must be licensed in Nigeria with some exceptions.

– Bio-similar – A product is said to be a biosimilar if it demonstrates similarity in terms of quality, safety and efficacy to a named reference bio-therapeutic product licensed in Nigeria and/or by s stringent regulatory authority. 

Applications

– The manufacturer shall be represented by an applicant – a duly registered pharmaceutical company – who must be in possession of a notarized power of attorney from the manufacturer authorizing him to speak for the principal on all matters relating to the product.

– The manufacturer must have:-

  1. A manufacturer’s license/certificate :- This is the documentary evidence issued by a competent health authority of the country of manufacture that the company is licensed to manufacture biotechnological products which may be used in the country of origin/exported.
  1. A product license/Certificate of registration.
  1. A Certificate of Pharmaceutical Product(COPP) in conformity with WHO formats :- This is the documentary evidence by the competent health authority that the sale of the product does not constitute a contravention of the drug laws of the country of manufacture.
  1. A valid World Health Organization (WHO) Certificate.

Product

– There must be evidence to demonstrate similarity to a named reference biotechnological product of assured quality, safety and efficacy in respect to the indication(s), note of administration and dosage forms that has been licensed based on a full registration dossier in Nigeria and or by w stringent regulatory authority.

– Failure to comply with this requirement will bar a product from registration.

Labelling Requirements

– The minimum labelling requirements on the primary and secondary package labels are :-

  1. Name of product :- INN/Scientific name and brand name where applicable, which must be written directly under the brand name and in same character.
  1. Manufacturer’s name and factory location address.
  1. Provision for NAFDAC registration number.
  1. Batch/Lot number.
  2. Manufacturing and expiry dates.
  1. Quantitative listing of all the active ingredients per unit dose.
  1. Precisely defined storage conditions.

Documentation

– Applicants shall be required to submit the following documents (originals and 2 copies) along with the duly completed application forms to NAFDAC:-

  1. Power of attorney or a contract manufacturing agreement.
  1. Manufacturer’s license/Certificate indicating:-

– The name of products to be registered.

– The name and address of the manufacturer.

  1. A certificate of pharmaceutical products (COPP- WHO format).
  1. A valid WHO Good Manufacturing Practice (GMP) Certificate.
  1. Evidence of trademark approval.
  1. A comprehensive certificate of analysis, issued by the manufacturer indicating the name, designation and signature of the analyst.
  1. Evidence of membership or approved sectoral group.

Validity period of Bio-similar Approval

– 5 years.

Fee Schedule

– Total regulatory payment for Bio-similar registration is 350 Thousand Naira plus 5% VAT( This is minus legal costs). 

Issuance of Certificate of Registration

– The applicant upon registration shall be issued a notification of product registration with the registration number which shall be subsequently used to obtain a registration certificate.

NAFDAC Guidelines on Warehouse Inspection in Nigeria

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The National Agency For Food and Drug Administration and Control (NAFDAC) introduced the warehouse inspection guidelines for the public and in particular, persons intending for warehouse inspection.

These guidelines prescribe the minimum safety standard for chemical handling, documentation, personnel requirements, facilities and timeline for warehouse inspection.

It should be noted that warehouse inspection is a prerequisite to issuance of chemical Importation permits of listing certificates which are authorizations to market chemicals.

The procedures involved in NAFDAC warehouse inspection are what will form the focus of this article.

Step 1 – Application

– An application letter on the applicant company’s letterhead paper addressed to NAFDAC which should include names of the chemicals, the quantities required and uses for which the chemicals are intended. The application must be signed by the Managing Director/Chief Executive Officer (CEO) or Technical Officer of the company.

– The following documents should be attached to the application :-

  1. Evidence of business incorporation
  1. Copies of the company’s Memorandum and Articles of Association (MEMART)
  1. Evidence of Particulars of Directors
  1. 2 passport photos of technical officer with name and company written on the back of the passport
  1. Evidence of the appointment letter, acceptance letter and credentials of the technical officer
  1. Standard Operating Procedure (SOP) for storage/handling of chemicals duly signed by the MD/CEO or Technical Officer with name and designation
  1. Evidence of payment for warehouse inspection
  1. Evidence of payment of rent for a minimum of 1(One) year
  1. Medical fitness certificate for the technical officers which should be presented biannually

Step 2 – Submission of Application

– The application letter and accompanying documents should be submitted at the liaison office of the Director, Chemical Evaluation and Research (CER) , NAFDAC.

Step 3- Review of Company documents followed by scheduling an inspection of the warehouse.

Step 4- Inspection of the warehouse as scheduled.

Step 5- Processing of Permit

– Upon satisfactory inspection of warehouse the permit applied for is processed. For unsatisfactory inspections, a compliance directive is issued within 2 work days.

Step 6 – Payment of Applicable Tariffs

It should be noted that:-

– A processing period of 16 work days should be allowed from the time of submission of a complete application.

– The timeline for processing is suspended when there is a compliance directive and resumes when the applicant compiles and communicates compliance to the agency.

– Warehouse Inspection is conducted annually for importers and marketers of restricted & agro chemicals. It is conducted every 2 years for importers and marketers of industrial and laboratory chemicals.

Requirements For Warehouse

Personnel

– The company representative responsible for interfacing with NAFDAC should be a technical officer with scientific background (a minimum of an Ordinary National Diploma/OND) or its equivalence is required.

– The technical officer must be present during inspection of facilities and must be the officer whose passport photograph was submitted.

Facility Location

– Storage and handling of chemicals in residential building and/or area is prohibited.

– The applicant shall have a warehouse that will be inspected for adequacy and appropriateness for the storage of chemicals.

– The facility provided will depend on the nature of the chemicals stored.

Storage

– The facilities provided will depend on the nature of the chemicals in the warehouse. Some chemicals are required to be stored under controlled (below ambient) temperature to maintain their potency for the validity period.

– Flammable chemicals should not be stored close to sources of ignition or sparks.

Labeling Information on the Chemicals

– All chemicals should be properly labeled according to the globally harmonized system (GHS) of labeling & classification of chemicals.

Safety Requirements

– Personnel are to be provided with masks, hand gloves, eye goggles, overalls and safety boots.

– Appropriate water supply, first aid boxes and fire extinguishers at strategic locations should be in place.

Documentation

– Companies should keep proper records of chemicals imported, sold and/or purchased locally (disposal/utilization records).

Central Banks Successfully test cross border trading of wholesale CBDC using Decentralized Finance

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In a landmark achievement for the global financial system, several central banks have successfully completed a pilot project to test the feasibility and efficiency of cross border trading of wholesale central bank digital currencies (CBDCs) using decentralized finance (DeFi) platforms. The project, dubbed Project Helios, involved the participation of the central banks of Canada, Singapore, Thailand, and the United Arab Emirates, as well as several private sector partners.

Project Helios CBDC is a central bank digital currency project initiated by the European Central Bank (ECB) in collaboration with the European Commission. The project aims to explore the feasibility, benefits and challenges of issuing a digital euro that would complement the existing cash and payment systems in the euro area.

The main objective of Project Helios was to demonstrate the potential benefits of using DeFi platforms to facilitate cross border payments and settlements of wholesale CBDCs, which are digital tokens issued by central banks for use by financial institutions. Unlike retail CBDCs, which are intended for general public use, wholesale CBDCs are designed to enhance the efficiency and security of interbank transactions and wholesale market operations.

The project was launched in July 2021, following a comprehensive analysis of the policy, legal and technical aspects of a potential digital euro. The project is expected to last for two years, during which the ECB and the Commission will conduct experiments, engage with stakeholders and assess the impact of a digital euro on various domains, such as financial stability, monetary policy, privacy and cybersecurity.

According to a joint press release issued by the participating central banks, Project Helios achieved several key outcomes, such as:

Enabling atomic transactions, which are simultaneous and final transfers of assets across different jurisdictions and time zones, without intermediaries or settlement risk.

Reducing costs and operational complexities by leveraging smart contracts and distributed ledger technology (DLT) to automate trade execution and settlement processes.

Enhancing transparency and traceability by providing real-time visibility of transactions and balances on a shared ledger, as well as enabling auditability and compliance with regulatory requirements.

Fostering innovation and interoperability by using open-source software and common standards to enable seamless integration and compatibility among different CBDC platforms and DeFi applications.

The participating central banks also highlighted the potential challenges and limitations of using DeFi platforms for cross border trading of wholesale CBDCs, such as:

Ensuring adequate governance and oversight of DeFi platforms and service providers, as well as addressing legal and regulatory issues across different jurisdictions.

Managing cyber risks and ensuring resilience and reliability of DeFi platforms and infrastructure, especially in the event of network disruptions or malicious attacks.

Balancing trade-offs between scalability and decentralization, as well as between privacy and transparency, depending on the specific use cases and preferences of the users.

The participating central banks expressed their appreciation for the collaboration and support from the private sector partners, which included Accenture, ConsenSys, IBM, R3, Digital Asset, Fnality International, Quant Network, Fireblocks, MakerDAO, Uniswap, Aave, Compound, and Chainlink. They also emphasized that Project Helios was an experimental initiative and did not imply any commitment or endorsement of any specific CBDC design or DeFi platform by any of the central banks.

The project is not a decision to issue a digital euro, but rather a preparatory step to ensure that the ECB and the Commission are ready to do so if the need arises. The decision will ultimately depend on the outcome of the project, as well as on the views of the European Parliament, the Council of the European Union and the general public. The ECB and the Commission are committed to ensuring a high level of transparency and consultation throughout the project, as well as to respecting the principle of subsidiarity and proportionality in relation to the role of national authorities and private sector actors.

Project Helios is one of the latest examples of the growing interest and experimentation in CBDCs and DeFi among central banks and financial institutions around the world. As these technologies continue to evolve and mature, they may offer new opportunities and challenges for the future of money and finance.

ChatGPT no longer limited to data before September 2021

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ChatGPT is a powerful chatbot that can generate fluent and engaging responses based on the user’s input. It can also create various types of content, such as poems, stories, code, essays, songs, and more. However, until recently, ChatGPT was limited to using data that was collected before September 2021. This means that it could not access the latest information, trends, events, or topics that happened after that date.

For example, it could not comment on the new iPhone 14, the nuclear fusion breakthrough in South Korea, or the global pandemic situation. That’s why we are excited to announce that ChatGPT is no longer limited to data before September 2021. We have updated its training data with the most recent and relevant web sources, so that it can now generate responses that reflect the current state of the world. ChatGPT can now talk about anything that happened in the past two years, as well as anticipate what might happen in the future, OpenAI announced on X.

This update will make ChatGPT more useful and enjoyable for users who want to have conversations that are up-to-date and informative. It will also allow ChatGPT to learn from new data and improve its performance over time. We hope that you will try out ChatGPT and see for yourself how it can generate amazing responses based on your input.

ChatGPT is a powerful natural language generation (NLG) system that can create coherent and relevant texts based on a few keywords or a short prompt. ChatGPT uses deep learning and neural networks to analyze the input and generate the output, mimicking the style and tone of human writers. ChatGPT is not a replacement for human writers, but a tool that can assist them in creating better content.

But now, ChatGPT has been updated to use data from the web in real time. This means that it can search for relevant and up-to-date information to enhance its responses and content. It can also learn from the feedback and preferences of the users to improve its performance and accuracy. ChatGPT is no longer limited to data before September 2021, but can leverage the vast and dynamic knowledge of the internet.

This update has several benefits for both ChatGPT and its users. For ChatGPT, it means that it can expand its vocabulary, knowledge, and creativity by accessing new and diverse sources of data. It can also avoid repeating outdated or inaccurate information that may have been present in its previous data. For the users, it means that they can have more informative, relevant, and interesting conversations with ChatGPT. They can also request more diverse and current types of content, such as news articles, lyrics of new songs, summaries of recent books, etc.

ChatGPT is a remarkable natural language generation model that can have significant implications for human interactions. It can offer many benefits such as enhancing communication, creativity, learning, and entertainment. However, it can also pose some challenges such as misleading, manipulating, harming, or replacing human communication. Therefore, it is important to use ChatGPT responsibly and ethically, by being transparent, respectful, critical, and mindful of its use and its limitations.

MTN’s South Africa Fintech Subsidiary Makes Strategic Move Into The Remittance and Payments Industry

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MTN’s Fintech subsidiary in South Africa has ventured into the space of remittance and payments, to enable users to send cash abroad and businesses to accept payments via its app.

With about 9 million registered mobile money subscribers in South Africa, Chief Financial Services offer MTN South Africa, Bradwin Roper announced that the company has set its focus on the estimated 15% of South Africans that are still unbanked.

He added that this development will enable registered users to send money across over 10 African countries in real-time.

MTN fintech subsidiary has also launched a virtual wallet for business owners that will allow them to accept payments via the app or QR code, a way to limit the use of cash by some of South Africa’s “spaza” shops, the informal stores that are found in township corners of the country.

To make payments easier for such business owners, MTN also launched what it calls cheaper-to-rent point-of-sale devices that merge payments and other added services like airtime purchases into one device.

About 80% of South Africa’s population visit spaza shops daily, and the spaza industry is valued at about 178 billion rand ($9 billion), Roper said.

The company also launched funeral insurance that allows customers to take out cover for either six months or 12 months with just one payment, instead of monthly debit orders until they die.

As the Fintech landscape in South Africa continues to evolve, MTN’s Fintech arm foray into remittance and payment represents a notable effort in the company’s efforts to diversify its services and contribute to the financial well-being of its customers.

This strategic approach will see it leverage its existing infrastructure and customer base to offer digital solutions that are user-friendly, secure, and accessible to a wide range of customers, especially the unbanked.

The company recognizes the importance of remittance and payments, as many Africans are scattered across Europe, and send money regularly back home to support their families.

In this light, MTN South Africa’s fintech arm’s strategic move aims to provide efficient and affordable remittance services to facilitate cross-border money transfers. This not only offers users convenience but also contributes significantly to financial inclusion in the country.

Notably, MTN’s established presence in the telecommunications sector provides it with a competitive advantage. It has a vast network of agents, mobile money services, and distribution channels that can be leveraged to facilitate remittances and corporate payments efficiently. This positions MTN South Africa as a formidable player in the fintech space.