Rising Cases Of Kidnap Will Cripple Business Operations, Chase Investors From Nigeria— MAN

The Manufacturers Association of Nigeria (MAN) on Wednesday decried the rising cases of kidnappings across the 36 states and Federal Capital Territory (FCT).

The association noted that the recurring incident which is yet to be fully addressed poses a significant threat to business operations locally and abroad.

The outcry is a backdrop of the recent kidnap of the Managing Director of Fouani Group, a member of MAN.

Fouani Limited, which specializes in electronics products is the sole distributor of LG, Hisense, and Maxi products in the country.

The Director-General of MAN, Segun Ajayi-Kadir, while commending security operatives in their swift response said in a statement that the unfortunate incident poses a major threat to investment and investors.

“We are glad that the efforts of the security agencies paid off and yielded results without casualties among the victims.

“MAN commends the security agencies for the safe release of Mr. Fouani. The Association urges intensified efforts to tackle the rising cases of kidnapping and insecurity in the country, as it poses a significant threat to the business community and the overall economic development of Nigeria”.

Speaking further the DG warned that “This, if not checked, will erode investor confidence in the economy and further jeopardize the efforts of the present administration of President Bola Ahmed Tinubu at repositioning the economy for growth.

“MAN also extends its solidarity and hearty felicitation to the family and colleagues of the Managing Director over the release. The association remains concerned about the safety and well-being of its members and will continue to collaborate with authorities to address security challenges facing the operators in the manufacturing sector in particular and the nation in general.”

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