SOUTH KOREAN POLICE SEEK ARREST WARRANT FOR HYBE CHAIRMAN BANG SI-HYUK OVER ALLEGED $100 MILLION INVESTOR FRAUD SCHEME. (PHOTO).

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 South Korean police seek arrest warrant for Hybe chairman Bang Si-Hyuk over alleged $100 million investor fraud scheme    South Korean police are seeking an arrest warrant for Bang Si-Hyuk, the billionaire music executive behind K-pop powerhouse Hybe and BTS, as part of an expanding investigation into allegations that he improperly benefited from an investor scheme involving more than $100 million. Authorities said they have asked prosecutors to pursue a court warrant for Bang’s arrest as they continue probing claims that he misled investors in 2019. Investigators allege he told investors that Hybe had no plans for an initial public offering, leading them to sell shares to a private equity fund. The company later went public, and police suspect a separate arrangement may have resulted in Bang receiving a substantial payout tied to post-IPO stock profits. Bang’s legal team has not directly addressed the specific allegations but said he has cooperated with investigators an...
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HEALTHCARE PROVIDERS URGE NAFDAC TO REDUCE COST OF GMP CERTIFICATES. (PHOTO).

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 Healthcare providers urge NAFDAC to reduce cost of GMP certificates. 

Healthcare Equipment and Allied Equipment Products Providers of Nigeria has urged the National Agency for Food and Drug Administration and Control to reduce the cost of Good Manufacturing Practice certificates for medical devices..


HEPAN also lauded President Bola Tinubu for signing the executive order to increase local production of medical and other healthcare products..


Recall that in June, the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, announced that President Tinubu had signed an executive order to increase local production of healthcare products, including pharmaceuticals, diagnostics, devices such as needles and syringes, biologicals, medical textiles, and more..


Pate said the order is pivotal to the success of the Presidential Initiative for Unlocking the Healthcare Value Chain, which was approved in October 2023 by the President..


He explained that the order introduces zero tariffs, excise duties, and Value Added Tax on specified machinery, equipment, and raw materials, aiming to reduce production costs and enhance the competitiveness of local manufacturers..

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